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Australian 10-Year Yield Drops to Lowest Since January 2009

Australian government bonds rallied, pushing yields on benchmark notes down to the lowest levels in more than 2 1/2 years.

The yield on the 10-year security fell six basis points to 3.95 percent as of 8:44 a.m. in Sydney, the least since January 2009, data compiled by Bloomberg show. The three-year rate dropped to 3.11 percent, a level last seen in March 2009.