Australian bonds rally as Donald Trump leads Presidency battle; 10-year yields register biggest fall since Oct

The Australian government bonds rallied Wednesday as Republican presidential candidate Donald Trump took a surprise lead over his Democratic opponent Hillary Clinton in one of the most bitterly contested fights for Presidency.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, fell 10-1/2 basis points to 2.256 percent, the yield on 15-year note also dipped 10 basis points to 2.642 percent and the yield on short-term 2-year slid 7 basis points to 1.601 percent by 04:20 GMT.

The United States Republican candidate Donald Trump is advancing further ahead of Democrat opponent Hillary Clinton in the unexpectedly close race for the White House. Currently, Trump leads in the electoral count at 216 compared to Clinton at 197. It takes 270 votes to win.

Meanwhile, the benchmark Australia's S&P/ASX 200 index traded 2.14 percent lower at 5,155.5 by 04:20 GMT.