Yields down again
Australia's 10-year has declined even further, to sit comfortably below 2 per cent.
Remarkably that's down from close to 3 per cent in February last year, as credit conditions have tightened and the economy has slowed sharply.
Implied yields on cash rate futures are slumping all the way out until H2 2020.
Markets are now all but pricing 50bps of easing - two rate cuts - despite the evidently high hurdle for a move.
Source: ASX
