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Bond proxies and dollar feel pinch as US yields surge to seven-year high

May 16, 2018 (The Australian - ABIX via COMTEX) --

The Australian dollar has fallen below $US0.75 after the yield on US 10-year government bonds peaked at 3.09 per cent, the highest level in seven years. This in turn prompted a sell-off of Australian-listed bond proxy stocks on 16 May, despite the local sharemarket posting a slight gain for the day. Hasan Tevfik of Credit Suisse expects global bond yields to rise further, and notes that Australian government bonds have a lower risk profile at present due to factors such as the nation's low official interest rates..

Publication Date: 17 May 2018

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By David Rogers

Copyright 2018 Roy Morgan Research. All Rights Reserved.

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