Australian bonds slump following weakness in U.S. Treasuries; hopes of FOMC rate hike reign

Australian bonds slumped on Wednesday following weakness in the U.S. Treasuries as hopes of interest rate hike reign market sentiments.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, rose 1 basis point to 2.715 percent, the yield on the long-term 30-year not…