Australian and New Zealand bonds sank, mirroring Treasuries’ sell-off on Friday, ahead of US inflation data this week, which will assist the Federal Reserve determine its next move.
(Bloomberg) — Australian and New Zealand bonds sank, mirroring Treasuries’ sell-off on Friday, ahead of US inflation data this week, which will assist the Federal Reserve determine its next move.
The 10-year yields in the two countries rose three basis points in early trade Monday, following a move higher in the US on Friday. Australian equities dipped, while major currencies remained generally stable after the dollar index extended Friday’s losses.
Monday sees widespread market closures across Asia, with China, Hong Kong, Singapore, Taiwan, South Korea, Malaysia, and Vietnam all off for Lunar New Year vacations. Cash trading in Treasuries will be closed in Asia on Monday due to a Japanese holiday.
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