QBE Insurance (ASX:QBE) close to year high after bond repricing lift
QBE Insurance Group Ltd is set to open Tuesday just under its 52-week high. Shares added 1.54% Monday, closing at A$24.43. QBE bucked the downtrend as tech and resources names weighed on the market. Bond moves took the lead. MarketIndex tied the insurers’ sharp gains to a jump in short-term real yields, or yields after inflation, coming after last week’s repricing in the bond market. Insurers put premium money to work until claims hit, so rising yields feed through as income when near-term bonds mature and that cash is reinvested.