Friday: US 10-year nudges 5% as Powell speaks

The US 10-year Treasury bond yield nudged 5% this morning after Jerome Powell reaffirmed the Fed was finding higher bond yields useful in fighting inflation. In our bonus deep-dive interview, ANZ’s Senior Asia Strategist Zhaopeng Xing points to the ‘lipstick effect’ that held back retail sales during China’s Golden Week. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/