3 year and 10 year yields tumble lower
Australian bond yields have moved to new record lows on the back of Pres. Trump's new tariffs on Chinese imports.
Three year yields fell as much is 10 basis points to 0.73%. That is more than 25 basis points below the RBA's 1% cash rate.
10 year yields fell 13 basis points to 1.08%. Both represent all-time lows for that maturity spectrum.
In the US debt market on Thursday, 2 year yields fell -13.6 basis points which 10 year yields declined by -11.8 basis points to 1.8969%. The 10 year is currently trading at 1.9038% while the 2 year is at 1.738%.
The AUDUSD fell for this 10th straight day on Thursday, but is up modestly in early trading today (up 4 bps).
Technically, the pair has support at a lower trend line at 0.67833 (and moving lower). The low in trading today has reached 0.6795. (high at 0.6806).
