In Australia, prudential regulator APRA has been pushed into a crackdown on their superannuation funds, and how they value unlisted assets. The suspicion is that many of these assets are being carried a values that can't be achieved in a high yield market. The UST 10yr yield will start today at 3.80% and down -3 bps from this time yesterday. The Australian 10 year bond yield is now at 3.98% and down -2 bps from yesterday. That all means the TWI-5 is now down at 70.7 and -30 bps lower from yesterday.

Source: New Zealand Herald July 18, 2023 01:23 UTC