But first in the US CPI inflation in February came in at the expected 2.4% rate, unchanged from January. Their core inflation rate rose slightly in February from January, to be 2.5% in February. Their 1-5 curve is much steeper +20 bps (+5 bps) and the 3 mth-10yr curve is now at just on +51 bps (+9 bps). The Australian 10 year bond yield starts today at 4.91%, up +6 bps from yesterday. But the NZ Government 10 year bond rate starts today unchanged at 4.60%.

Source: Stuff March 12, 2026 00:26 UTC