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Australian bonds slump post RBA’s decision to stay pat; investors eye Governor Lowe’s speech

The Australian government bonds slumped Tuesday after the Reserve Bank of Australia (RBA) maintained its benchmark cash rate on hold at its monetary policy meeting held today.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, jumped 3 basis points to 2.62 percent, the yield on 15-year note surged 4 basis points to 3.04 percent and the yield on short-term 2-year traded 1-1/2 basis points higher at 1.69 percent by 04:40 GMT.

The BA held its benchmark cash rate at a record low 1.5 percent as widely expected, but noting the housing market presents challenges to policy. All 65 economists polled by Reuters predicted the central bank would maintain the cash rate at 1.5 percent at Tuesday's meeting.

"Conditions in the housing market continue to vary considerably around the country," Governor Philip Lowe said in a statement.

Meanwhile, the ASX 200 index traded 0.35 percent down at 5,923.50 by 05:00GMT, and the FxWirePro's Hourly AUD Strength Index remained highly bullish at 133.06 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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July 2 15:00 UTC Released

DKCurrency Reserves

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449.6 Stale

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Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

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50 %

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48.6 %

January 31 00:00 UTC 774172774172m

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2016 bln ARS

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 785992785992m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 774172774172m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 785992785992m

ARTrade Balance

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Previous

-1541 %

January 31 00:00 UTC 774172774172m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 774172774172m

ARAnnual Primary Balance*

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2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 774172774172m

ARAnnual Primary Balance*

Actual

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2016 bln ARS

Previous

Bln AR bln ARS

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