Aussie 10-year yield fell below RBA cash rate due to Swiss decision

Source: Bloomberg
© scanpics/FP
The Australia's benchmark 10-year bond yield slipped below the central bank's cash rate after the Swiss National Bank's unexpected decision to abandon its minimal exchange rate for EUR/CHF. As a result, the yield dropped by 18 points to a 2.49%, below the Reserve Bank of Australia's 2.5% key rate for the first time since December 2012.
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