Australia 10-year yield recovers from 7-month low

A better-than-expected Aussie annualised Q1 GDP figure helped the 10-year government bond yield recover from the 7-month low of 2.358%. The yield was last seen trading around 2.392%. 

The yield has been steadily losing height since early May in response to weak economic data and due to losses in the global benchmark - US treasury yields. 

Aussie GDP may have bettered estimates, but the growth rate is still the weakest in 8 years. A 0.6 point drop in the Capex is another bad news and could be the one capping further gains in the Aussie yields.