"Consumers are in a sweet spot at the moment. The labour market is strong, accumulated savings are elevated and it appears households are resilient to a slow vaccine rollout," said CBA economist Belinda Allen.
Yields on Australian 10-year paper eased to 1.82%, from 1.87%. That left the spread over Treasuries at 12 basis points, a long way from the 39 basis points seen at one stage of the mass sell-off in February.