Depressionberg shock: Aussie bond yields breach all time lows

The entirety of the Australian front end bond curve has slumped to all-time lows this morning, everywhere from one to five years maturity:

The very short is only at 10bps, clearly eyeing off a rate cut and, before long, the negative. The curve is far too steep still give the RBA will have no choice but to march out the maturities:

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