The Australian Government has just issued $3.25 billion of the longest maturity bonds to date. Maturing in 2029 the bonds were sold on a yield of 3.595%. AAA rated Australian bonds remain keenly sought with a report today also that the AUD accounts for 3% of Kazakhstan currency reserves. All helping to maintain a stubbornly high AUD.
The latest weekly report from QTC also shows good support for Queensland Government bonds with 10 yr yields down by 0.26% to new lows since the Fitch downgrade and also down similarly against the Australian 10 yr. Well done Fitch! Ole! Bond markets give Fitch the finger
The latest Credit Suisse Global Wealth Report places the median wealth of Australians as the highest in the world. The glass is half full? Meanwhile, Macrobusiness has posted an alternative view of the glass: Why Australians are economically depressed