SINGAPORE
(Jan 27): Asia's wealthy are falling out of love with the Aussie dollar
as record-low yields and sustained declines persuade them to look
elsewhere, according to UBS Group.
Many of the bank's wealthiest clients in the region began to abandon
the currency as Australia's bond yield premium over the US slid and the
Federal Reserve discussed raising interest rates, said Simon Smiles,
Zurich-based chief investment officer for ultra-high-net-worth
individuals.
The 10-year yield is 74 basis points above that of the US, down from 130 a year ago.
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