Australia’s 10-year has gone to 4.761% after sitting at 4.10% earlier this week. At the same time our M3 money supply has blown out to $3.3 trillion.
This is the bond market’s way of screaming:
“Stop letting the piggish politicians help themselves to public money.”
When you keep printing money (M3 up $500 billion in just a few years), keep running deficits, keep hiring more bureaucrats, keep expanding programs, keep bailing out bad decisions, and keep promising things the nation can’t afford…
The bond market eventually says that’s enough.
A rising 10-year yield is not just a finance chart, it’s the world pricing in how irresponsible and self-serving our political class has become.
The cruel irony?
Every extra tick higher on that chart forces taxpayers like you and I to fund even more interest payments instead of schools, hospitals, roads or even lowering our tax obligations.
Politicians get the photo ops.
Australians get the bill.
Future generations get the debt.
We need politicians to stop helping themselves at our expense.