From the Fixed Income Desk Monthly Outlook
The Australian bond market (as measured by the UBS Composite Bond Index 0+YR) returned 0.81% in June. Over the month, 3-year government bond yields fell to 2.61% from 2.74%, while 10-year yields fell to 3.54% from 3.66%. Shortterm bank bills remained steady over the month; the 1-month bank bill swap rate (BBSW) was flat at 2.67%, the 3-month rate was flat at 2.71%, while the 6-month rose to 2.72% from 2.71%. The Australian dollar rose slightly over the month, starting at USD 0.930 and ending at USD 0.942.