Adds to the case for an RBA rate cut if you are leaning at way (most analysts are, as is market pricing) .
Earlier:
- Here is another RBA cash rate forecast - 3 cuts coming up by the end of the year
- JP Morgan forecast the RBA to cut rates 4 times by mid 2020
This is the first time the Australian 10 year yield has dropped to a lower level than the RBA cash rate since 2015.
There rate cuts from the RBA in February and May of 2015 (a bit hard to see on that graph above).
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And I shouldn't ignore the kiwi.
- NZ 10 yr yield has hit its lowest ever today, 1.719%
