SYDNEY, Feb 26 (Reuters) - Australia's central bank on Friday offered to buy three-year government bonds in an unscheduled market operation as yields spiked further above its 0.1% target amid a global market selloff.
The Reserve Bank of Australia (RBA) offered to buy A$3 billion ($2.35 billion) of the April 2023 to April 24 bond lines, on top of a similar amount on Thursday.
Yields on cash three-year bonds AU3YT=RR were up at 0.15%, but the implied yield on three-year futures YTTc1 had shot to 0.34% as bonds sold off globally. ($1 = 1.2749 Australian dollars)