Due to pressure from the global bond market and expectations that the Bank of Australia may raise interest rates further, the yield on Australian 10-year treasury bonds rose to the highest level in 15 years. The 10-year Treasury yield once rose 9 basis points to 5.18%, the highest since July 2011. The 3-year Treasury yield rose 7 basis points to 4.73%. Andrew Ticehurst, senior interest rate strategist at Nomura Securities, said the sell-off appears to be the result of a combination of global and local factors.

Due to pressure from the global bond market and expectations that the Bank of Australia may raise interest rates further, the yield on Australian 10-year treasury bonds rose to the highest level in 15 years. The 10-year Treasury yield once rose 9 basis points to 5.18%, the highest since July 2011. The 3-year Treasury yield rose 7 basis points to 4.73%. Andrew Ticehurst, senior interest rate strategist at Nomura Securities, said the sell-off appears to be the result of a combination of global and local factors.