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Westpac Lift U.S. & Aussie 10-Year Yield Calls

AUSSIE BONDS

Westpac have lifted their "target for the US 10 year bond rate by end 2021 from 1.5% to 1.8%. In turn the expected rate by end 2022 has been increased from 1.75% to 2.40%. We expect that higher rate profile to persist right out to end 2024 when we see the US 10 year bond rate settling at around 3% (reaching a sustainable peak before the first rate hike by the FED). That next cycle can be expected to be more gradual than previous cycles. In turn that adjustment boosts our forecast for AUD 10 year bonds to 1.9% by end 2021, from 1.55%; 2.50% by end 2022; and 3.15% by end 2024."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets

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