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He's my friend when he drinks in moderation. When he has had a few too many I will be kept busy trying to disown him... ;)

Unfortunately there is not much Mr Stevens can do about this problem - if he raises rates less housing will get built. If he lowers them it is most likely to mainly flow into asset prices with little stock actually being built, creating a worse problem than we had before... The supply side...

Hi Keith Some good points here. I would just like to concur with Michael that there are a couple of drivers for bond rates that are completely unrelated to the future of variable interest rates, including: - The relative attractiveness (risk/return) of equities, which varies as a function...

Hi WW it may be the multi tasking ;) but I'm trying to reconcile these two sentences - in one case investors flock to assets (which would drive up their price?) and in the next asset values are flat...? Perhaps you are seeing the current move to assets as temporary and will soon unwind...

Me too... we could be waiting awhile! :rolleyes:

Hi Keith This goes to show my memory should never be relied upon! This link has 5 year rates previously with a 5 in front (5.99% seems to be the 2003 low point that I recall) but 10 years were never low 6s - 6.79% is the lowest I could find (in this link although I can't remember if Westpac...

Agreed - it would be a nice surprise! However 10 year rates in the low sixes have happened before at a time when variable rates didn't go as low as ours are looking to go right now - and general sentiment was better then too (none of this "global" stuff and multiple 100 basis point drops!)...

I'm hanging out for the ten year rates to drop - it may take a bit longer for them to get a five in front but I reckon it will flow through sometime early to mid next year... they don't yet reflect the usual premium for the longer duration but that margin should hopefully come back in that...