Bond Rout Forces Australia Policy Shift in Lesson for the World
- Money markets pare ECB, BOE rate hike bets after RBA decision
- Italy yield premium drops by most since February amid pushback
A pedestrian passes the Reserve Bank of Australia building in Sydney, Australia.
Photographer: David Gray/BloombergThis article is for subscribers only.
Bond market one, central banks zero.
That’s the headline score after a bruising week in global markets forced a policy change in Australia that’s sent ripples across the globe. But market moves in the wake of the decision suggest traders are unsure about just how far they can push the world’s central banks.