Australian government bond yields climbed to their highest levels since May 2011 after a sharp overnight sell-off in U.S. Treasuries spilled into the local market, according to BlockBeats. On Sept. 11, the outlet said the move followed an escalation in tensions in the Middle East, which pushed oil prices higher and weighed on sovereign debt.
Australia’s 3-year government bond yield at one point surged 18 basis points to 5.03%. The country’s 10-year bond yield rose 13 basis points to 5.38%. Both levels marked fresh highs not seen since May 2011.
The report linked the move in Australian bonds to the overnight decline in U.S. Treasuries, with higher oil prices cited as the trigger behind the broader sell-off. No additional details were provided in the source report.
Australian government bond yields rose to their highest levels since May 2011 after a steep overnight sell-off in U.S. Treasuries spilled over into Australia’s bond market, according to BlockBeats on Sept. 11.
The report said the move came after escalating tensions in the Middle East pushed oil prices higher, sending U.S. Treasuries sharply lower overnight. Australian government bonds then fell in tandem.
Australia’s 3-year government bond yield at one point jumped 18 basis points to 5.03%. The 10-year government bond yield climbed 13 basis points to 5.38%. Both yields reached their highest levels since May 2011.
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