Australian shares surged to start the trading week, recouping some of the steep losses seen on Friday. Large caps drove the move, outpacing more modest gains across the smaller end of the market. All sectors finished higher, helped by the Reserve Bank of Australia’s surprise decision to drastically increase the size of bond purchases further out the curve, helping to send yields on benchmark 10-year government debt tumbling more than 30 basis points from Friday's levels. Bond proxies and growth sectors rocketed with REITs and information technology gaining 3% or more. Communications, healthcare and consumer discretionary also outperformed, lifting by more than 2%. Aside from the materials sector, which was weighed down by Fortescue Metals trading ex-dividend, every other sector added more than 1% for the session.

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