Investors expect competition to raise debt to fund ambitious infrastructure projects while budgets remain in deficit will mean big returns to attract buyers
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Inflation is high but is the Reserve Bank raising interest rates into a recession? abc.net.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from abc.net.au Daily Mail and Mail on Sunday newspapers.
Investors have increased bets of an interest rate increase by August as the likelihood of higher salaries in a tight jobs market will keep inflation elevated for longer.
Financial markets have ramped up expectations the Reserve Bank will raise its cash rate at least three more times to above 4 per cent this year to combat inflation.