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10Y Benchmark Yield At Its Highest Since 2011

AUSSIE BONDS

The 10-year futures contract breached support today and is trading at a near-cycle low of 95.21.

  • According to MNI’s technical team, the broader trend direction in the Aussie 10-year futures contract is down. The key support and the bear trigger at 95.660, the Aug 17 low, was breached. The break of this level reinforced a bearish theme and also confirmed the breach of major support at 95.670, the Jun 17 2022 low, marking a resumption of the medium-term downtrend.
  • The cash ACGB 10-year yield has pushed to a high of 4.769% today, its highest level since 2011.

Figure 1: ACGB 10-Year Yield (%)



Source: MNI – Market News / Bloomberg

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