Australia’s 10-year government bond yield fell to around 5.1%, hitting an eight-week low as global bond markets rallied on increased safe-haven demand following a selloff in technology stocks. Disappointing earnings from major tech companies renewed concerns over the sustainability of heavy artificial intelligence investments, prompting a rally in US Treasuries that spilled over into the Australian bond market. A suspected hack of Binance, the world’s largest cryptocurrency exchange, added to broader risk aversion. The decline came despite expectations of further policy tightening by the Reserve Bank of Australia. Hotter-than-expected inflation data and hawkish comments from the RBA’s top officials have led markets to price in an 83% chance of a rate hike at the central bank’s November 3 meeting, up from 25% weeks ago. The benchmark yield is now headed for its first monthly decline since June amid souring sentiment around AI-linked equities and the prolonged Middle East tensions.