Based on historical trends, it appears that a sharp rise in yields on the Australian 10-year bond is typically followed by a positive reaction in equity...

Based on historical trends, it appears that a sharp rise in yields on the Australian 10-year bond is typically followed by a positive reaction in equity markets over a three-month period, according to Macquarie research. Resource stocks have historically also had strong returns following a positive shock in the Aussie bond market, however, this has not been the case over the last 5 years.