Japan, Australia government bonds strengthen to November levels

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Sovereign bonds were once again enjoying haven status on Thursday, bolstered by risk-off sentiment to levels not seen since shortly after the US election in November.

The yield on 10-year Japanese government bonds was down 2 basis points at 0.004 per cent, pulling back slightly after dipping to the lowest level since November 17. The 10-year Australian government bond saw its yield drop 5bp to 2.45 per cent, touching the lowest level since November 10.

South Korean government bonds were bolstered as well, with yields dropping 3bp to 2.168 per cent.

The yield on 10-year US Treasuries was down 1bp at 2.23 per cent.

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