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A$ Surges, Yields Spike On Surprise RBA +25bps Rate Rise

RBA

AUD/USD has surged on the surprise RBA +25bps hike. The currency is just off highs, last near 0.6680/85 (highs of 0.6685). We were sub 0.6630 prior to the outcome. The 2yr bond yield has spiked above 3.25% (+18bps), before edging lower. The 10yr is just under 3.48%, +10bps from session lows. More to follow.

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