The Australian bonds rallied Wednesday tracking developments in the U.S. Treasuries. Also, the Reserve Bank of Australia (RBA) remained on hold at its monetary policy decision held yesterday.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, fell 1/2 basis point to 2.61 percent, the yield on 12-year note also slipped 1/2 basis point to 2.76 percent and the yield on short-term 2-year traded 1-1/2 basis points lower at 1.70 percent by 04:10 GMT.
The RBA left the cash rate at a record low of 1.50 percent. There was additional information on the labor market, household borrowing and supervisory measures directed at housing lending in this statement compared with previously.
Meanwhile, the ASX 200 index traded 0.52 percent down at 5,841.50 by 04:20GMT, while at 04:00GMT, the FxWirePro's Hourly AUD Strength Index remained highly bearish at -111.21 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
