Hot inflation fans bond market meltdown
Cecile LefortMarkets reporter
A hot inflation report has emboldened bets that the Reserve Bank of Australia will resume raising interest rates this year at a time when other central banks are just starting to lower theirs.
The Australian dollar and bond yields soared after the annual pace of the monthly consumer price index spiked in May at 4 per cent. That’s up from 3.6 per cent in April and well above forecasts of 3.8 per cent.
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