Mid-yields on 10-year government bonds finished 2019 - and capped off the decade - with across-the-board increases. In fact, amid an ever-uncertain monetary policy environment, several government bond markets tracked by Tradeweb saw their yields rise by double digits over the course of December. In some cases, this helped push yields either closer or into positive territory.
The biggest move came from the Australian 10-year benchmark note, whose yield climbed 33 basis points to end the month at 1.37%. While the Reserve Bank of Australia did not change its cash target rate at its December