Investors bet on the imminent rate cut by the Reserve Bank of Australia, with Australian bond yields falling to a 13-month low

It is reported that the Australian bond yields have fallen to a 13-month low as the market widely speculates that the Reserve Bank of Australia is likely to cut interest rates. The yield on the benchmark 10-year government bond has dropped to 3.88%, while the yield on the three-year government bond has also declined by 5 basis points. Despite the Reserve Bank of Australia keeping interest rates unchanged and indicating that a rate cut is not ruled out, bond investors are skeptical of its hawkish stance, especially after the Reserve Bank of New Zealand cut rates. The market's bets on the RBA's easing policy have increased. Investors are awaiting the upcoming employment report to assess the possibility of a rate cut