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The spread between the Aussie 10-year government bond yield and its US counterpart is currently seen at -0.57 basis points – the lowest since 1981.  

Put simply, Australia’s 10-year bond now yields 57 basis points less than the US 10-year treasury note.  

Australian bond yields picked a bid last week after RBA’s Lowe put rate cuts back on the table.  

It is worth noting that the spread has dropped close to 100 basis points in the last six quarters.