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Australian government bonds jumped during Asian session Thursday tracking a similar movement in the U.S. Treasuries despite a tad higher growth in the country’s employment for the month of June, although unemployment rate remained unchanged.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, plunged nearly 5-1/2 basis points to 1.346 percent, the yield on the long-term 30-year bond remained flat at 2.054 percent and the yield on short-term 2-year slipped 1 basis point to 0.950 percent by 04:40GMT.
Australia’s employment increased by just 500 workers in June, as the 21.1k gain in full-time employment more than offset the 20.6k fall in part-time employment. After spiking at 2.9 percent y/y on the back of the inflated May result (due to the election), growth fell back to 2.4 percent y/y.
The unemployment rate was unchanged at 5.2 percent despite zero monthly employment growth and the participation rate fixing at the historic peak of 66.0 percent.
Meanwhile, the S&P/ASX 200 index remained tad -0.11 percent lower at 6,583.50 by 04:45GMT.
