This housing correction is on track to break records

Risk is everywhere you look. Long-term interest rates seem to be grinding inexorably higher: in the past month, the US 10-year Treasury yield has marched towards 5 per cent while Australia’s 10-year yield has pushed through that threshold. We have witnessed the inception of a globally synchronised hiking cycle, with the Reserve Bank of Australia, the Reserve Bank of New Zealand, the European Central Bank, Norges Bank and others lifting rates. Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Fetching latest articles