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RBA Surprises with a 25 bp Hike
The large bourses in Asia Pacific but Hong Kong eased. Japan and China's mainland markets are closed for the holiday. Europe's Stoxx 600 is up about 0.6%. It gapped lower yesterday and has not entered the gap today. US futures are a little softer. The 10-year Treasury nicked the 3%-mark yesterday is just below there now. European benchmark yields are mostly 1-3 bp higher, but the UK Gilt yield has jumped eight basis points, and Australia’s surged 13 bp after the RBA delivered a larger than expected hike. The Australian dollar is the strongest of the majors, it is up about 0.70% near midday in Europe. The Norwegian ... (full story)
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