Australian 10-Year Bond Yields Near 5-Month Low Following US Missile Attack Against Syria

The Australian 10-year bond yields plunged to near 5-month low on the last trading day of the week as investors poured interest in safe-haven assets, after the United States fired a fleet of missiles against the Syrian airbase earlier today, which further shored up bond demand.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, slumped nearly 3 basis points to 2.55 percent, the yield on 15-year note slipped 1 basis point to 2.95 percent and the yield on short-term 2-year traded 2-1/2 basis points lower at 1.65 percent by 04:20 GMT.

The United States blasted a Syrian air base with a barrage of cruise missiles Friday morning in fiery retaliation for this week’s gruesome chemical weapons attack against civilians. It was the first direct American assault on the Syrian government and Trump’s most dramatic military order since becoming president just over two months ago, reports said.

“The initial implication has been a risk-off reaction. It's affected risk sensitive as well such as the Aussie,” Nasdaq reported, citing Rodrigo Catril, Currency Strategist, National Australia Bank.

Following this, the AUD/USD traded at a 3-week low of 0.7529. Meanwhile, the ASX 200 index traded 0.65 percent down at 5,825.50 by 04:30GMT, while at 04:00GMT, the FxWirePro's Hourly AUD Strength Index remained neutral at -36.70 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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