RBA’s Bullock: Global Uncertainty Pushes Investors to Seek Higher Returns

Bullock's framing is notable less for the diagnosis than for the reassurance: a central bank publicly pre-committing to absorb disorderly bond moves signals that officials see tail risk in fixed income, not just equity volatility. For crypto and RWA markets, the read-through is that the same search for yield pushing investors up the risk curve also strengthens the case for tokenized yield-bearing assets, though that demand is rate-sensitive. Whether the RBA's balance-sheet backstop is ever tested — and whether tariff headlines keep feeding the uncertainty — is the open question.