The Reserve bank of Australia is buying A$4bln of longer-dated bonds

The Reserve bank of Australia is buying A$4bln of longer-dated bonds, which is double the usual size and offering to buy up to A$4bln of November 2024 to May 2028 bonds.

This follows last week's surprise purchases when the RBA bought a huge A$3BN in three-year government bonds in the secondary market on Thursday. That was triple the amount it bought on Monday and the highest since the bond market turbulence during the COVID-19 panic last March.

Aussie yields are up over 2.3% at the time of writing to 98.62%