Australia, New Zealand 10-year Treasury yields rally to May 2019 top

Anil Panchal FXStreet

New Zealand’s 10-year Treasury yields rise to the fresh high since May 2019, its Aussie counterpart also wavers around the same level during Thursday’s Asian session.

Australia’s 10-year Treasury yields jumped to 1.72%, the highest in 21 months, the previous day before easing currently around 1.67%.

Read: AUD/USD: Refreshes three-year high to inch closer to 0.8000 amid broad risk-on mood

On the other hand, Kiwi bond yields stay on the front foot after the early-Asian chatters surrounding the RBNZ. In doing so, the kiwi bond coupons ignore the latest Business Confidence and Activity Outlook data from the Australia and New Zealand Banking Group (ANZ) for February.

That said, New Zealand's 10-year Treasury yields take the bids near 1.82% by press time.

Read: NZD/USD jumps to the highest since August 2017 as RBNZ’s Orr, NZ FinMin favor bulls

While tracing the moves, vaccine updates and the Fed’s firm rejection to the reflation fears could be spotted as the main catalysts, in addition to the domestic factors.

Looking forward, AUD/USD and NZD/USD traders should pay close attention to the respective treasury yields amid a light calendar.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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