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A bond market anomaly that has reliably predicted a U.S. recession in the past may normalize this year in a highly unusual manner. It's a worry for markets. The market signal, called a... -April 29, 2024 at 01:00 am EDT - MarketScreener
The Reserve Bank of Australia held the cash rate at 4.35 per cent as expected, but poured cold water on a mid-year rate cut, saying inflation is high.
The Australian dollar dropped below US66¢ and bond yields retreated after the Reserve Bank appeared less keen to raise the cash rate.
Bond markets indicate a looming slowdown after the RBA lifted the cash rate and indicated more in the future.
Fund managers and economists argue that the RBA’s hawkish bias was consistent and dispute the market’s surprise after it lifted the cash rate at its policy meeting.