Australia’s 10-year government bond yield fell to around 5.3%, its lowest level in nearly three weeks, tracking a broader retreat in global yields as the recent selloff in government debt lost momentum. Investors also assessed minutes from the Reserve Bank of Australia’s September meeting. The central bank has left the door open to further monetary tightening, warning that several upside risks to inflation identified earlier were materializing. The RBA highlighted rising global costs, escalating Middle East tensions and oil prices above levels assumed in its August forecasts as key inflation risks. The comments suggest the official cash rate could be raised a fifth time this year in November. Focus now turns to September employment report due Thursday and the Q3 CPI data expected later this month for clues on the RBA’s next move. Meanwhile, escalating geopolitical tensions in the Middle East and Eastern Europe continued to support elevated oil prices, adding to inflationary pressures.