Breakfast Briefing | 18 May 2026 | Bond Markets Reprice Risk

This Monday's Breakfast Briefing unpacks a week of rising bond yields, geopolitical stress, and shifting rate expectations.Australia's 10 year yield opens at 5.08%, up 11 basis points for the week, reflecting a global repricing of risk. The China-US summit in Beijing disappointed markets, the Strait of Hormuz blockade pushes on with no resolution, and Japan has just posted its highest producer price rise since 1960, up 4.9% in April.US Treasuries also jumped sharply, with the 10 year at 4.60%, up 24 basis points for the week. Markets are now pricing a higher probability that the US Fed's next move could be a hike, not a cut. That's a significant shift in sentiment heading into the new week.Gold pulled back hard, off US$184 for the week. The Australian dollar sits at 71.5 US cents. Bitcoin is at US$78,024, down 4.2% for the week.Full Briefing, source links, and current rate comparisons at interest.com.au: https://www.interest.com.au/economy/664/us-gets-bump-defensive-stockpiling-effects-china-sees-trump-bond-markets-rethink-us#BreakfastBriefing #AustralianEconomy #InterestRates #BondMarkets #GlobalEconomy #OilPrices #AUDollar #Bitcoin #Gold #interestcomau