Australia's government bonds rise on interest rate cut speculation

Government bonds of Australia rose on Tuesday with the three-year rates falling to the lowest level in eleven weeks amid speculation that the Reserve Bank of Australia will cut the benchmark interest rate. 3-year yields dropped six basis points to 2.681%, 2-year rates fell to the lowest since March 5 at 2.673% and the 10-year yield slipped to the lowest since December 12 at 3.182%.