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US Dollar Climbs to One-Year High as Fed Rate Hike Expectations Surge 
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The Australian government bond yields cheered market investors after trade negotiations began between the United States and China in Washington yesterday, keeping markets hopeful of a positive outcome by end of this week.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 12 basis points to 1.015 percent, the yield on the long-term 30-year bond surged nearly 13 basis points to 1.615 percent and the yield on short-term 2-year remained tad higher at 0.708 percent by 05:10GMT.
Market sentiments improved overnight after US President Trump opined that trade talks went “very well” and he will be meeting Chinese Vice Premier Liu He today, OCBC Treasury Research reported.
Should a mini US-China trade truce materialise, then the upcoming 15 October tariff trance (raising the tariffs from 25 percent to 30 percent on AUD250 billion) stands a good chance of being postponed, but the longer-term bilateral relations may remain fragile on the tech, human rights and other hotspots, the report added.
Meanwhile, the S&P/ASX 200 index gained tad 0.22 percent to 6,585.50 by 05:15GMT.
