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Australian bonds flat in muted session after market sentiments improve following breakthrough Brexit deal
The Australian government bonds remained flat during Asian session of the last trading day of the week Friday amid otherwise muted hours that witnessed data of little economic significance.
However, market sentiments remained upbeat following the breakthrough Brexit deal, which will smoothen the roadmap to the final exit of Britain from the European Union.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, hovered around 1.103 percent, the yield on the long-term 30-year bond also remained flat at 1.689 percent and the yield on short-term 2-year too traded steady at 0.770 percent by 05:45GMT.
Global risk sentiment improved after the breakthrough of Brexit deal and China’s confirmation on tentative trade truce brought the glass of risk sentiment half full, OCBC Treasury Research reported.
Further, a host of good earnings results from US companies bolstered market sentiment overnight as well, despite a weaker-than-expected industrial production data which came in at -0.4 percent m/m in September, showing signs of slump of automobile manufacturing due to GM strike, the report added.
Meanwhile, the S&P/ASX 200 index traded tad -0.63 percent down at 6,666.50 by 05:50GMT.