Another breakthrough after seven years, Australia's 10-year Treasury yield reaches 3%

The market expects the Australian cash rate to rise faster than predicted, as inflation will accelerate due to higher prices of crude oil and household goods.

Meanwhile, the increase in Treasury yields implies a decline in Treasury prices and indicates that investors in the market expect the RBA to bring forward the timing or plans for a rate hike. Some investors also expressed that the Federal Reserve's "hawkish statements" on rate hikes are impacting market sentiment.

Compared to other countries, the U.S. 10-year Treasury yield is 2.7%, and the New Zealand 10-year Treasury yield is 3.47%, while its cash rate has reached 0.75%.

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