Australian, Japanese govt bonds fall on signs of economic pickup
Singapore
AUSTRALIAN and Japanese government bonds dropped, sending benchmark yields in both countries to the highest this year, on signs of economic improvement.
The government securities sold off amid a global fixed-income slump after investors balked at record-low yields set earlier this year from Asia to Europe. Australian labour force data reported on Thursday in Sydney was stronger than strategists forecast. That came after US job growth beat expectations last week, underpinning projections that the Federal Reserve will raise interest rates in the world's biggest economy. Euro-area bonds also fell before debt sales in Spain and Italy.
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