Yields push higher still, France’s political concerns ease, one more reason for BoJ to lift rates

Tuesday 2nd July 2024

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Treasury yields continue to rise. NAB’s Syke Masters says here are a range of factors at play ,but one is the seeming lack of concern on both sides of politics to address the US government’s rising deficit. In Europe concerns about a National Rally majority eased as almost 170 candidates withdrew from the second round election to avoid diluting opposition. A higher-than-expected index in the Tanken Large Manufacturing index in Japan provides another reason for the BoJ to lift interest rates. And the RBAA minutes will be scanned for suggestions about how seriously the potential of a rate hike was/is.

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