Australia’s 10-year government bond yield rose to around 4.77%, extending its rebound from a four-week low, after resilient jobs data reinforced the Reserve Bank’s view that the economy can withstand tighter policy without a spike in layoffs. The jobless rate held at 4.1% in January, below the 4.2% forecast, while employment increased by nearly 18K, entirely in full-time positions, with the previous month’s hiring revised upward. This comes after the annual wage growth remained elevated in Q4, signaling continued labor market tightness and highlighting the inflation pressures facing the RBA following this month’s rate hike. The central bank has also recently revised up its core inflation estimates by half a percentage point, forecasting inflation will remain above target this year. Traders have boosted bets on a potential rate hike in May, though most economists expect the RBA to keep the cash rate steady at its March meeting.