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AU Bond yields continue to tumble
Bond investors delivered a resoundingly negative verdict on Reserve Bank optimism yesterday as the Australian dollar and stocks looked on the bright side of underlying weakness in yesterday’s keenly watched jobs data. Some investors and economists viewed a fall in the headline unemployment rate to 4.9 per cent as positive and in support of the Reserve Bank’s optimistic outlook. But focus later shifted to the grassroots indicator showing a net-total of just 4600 new jobs created, a sharp fall from the downwardly revised 38,300 increase in January. Demand for bonds accelerated in afternoon trade and government ... (full story)