29 Mar – 01 Apr 2016

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The yield curve paused its flattening trend and the 3 year-10 year difference was maintained at 61bps. It had gone as low as 59bps during the week but a speech by Janet Yellen towards the end of the week was viewed as pulling down US 2 year yields. Typically movements in shorter-dated US bonds affects the pricing of Australian 3 year yields and the lower yield at the short end led to the local yield curve finishing the week unchanged.

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