Could Australia Note Yield Drop to New Low at Auction?

By Sophia Rodrigues

Looking forward to the AOFM's weekly T-Note auctions later this morning. The record low weighted average yield for the January 29 Note at auction was 0.0982% on October 8, and record low bid was 0.0850%.

It is likely the record low bid would go down further, and weighted average yield could also go lower as bids get more competitive. All ahead of RBA rate cut expectations for the November 3 board meeting, including expectation of a cut in the ES rate.