Thứ Hai, 25 tháng 3, 2013

Aust bonds open firmer

THE Australian bond market has opened firmer, with futures contract prices moving in line with US Treasuries during overnight trading.

At 0830 AEDT on Tuesday, the June 10-year bond futures contract was at 96.415 (implying a yield of 3.585 per cent), up from Monday's local close of 96.355 (implying a yield of 3.645 per cent).

The June three-year bond futures contract was at 96.960 (3.040 per cent), up from 96.920 (3.180 per cent) previously.

US Treasuries finished the New York session stronger - retracing earlier losses - after comments from Eurogroup president Jeroen Dijsselbloem said Cyprus might be a blueprint for other banking systems in the region.

US Treasury two-year note yields fell one basis point to 0.24 per cent, while the yield on 10-year notes fell one basis point to 1.92 per cent.

Yields move inversely to prices.

A weak day on global equity markets also supported safe-haven buying of bonds.

"Australian bond futures rallied across the curve," ANZ said in a research note.

In economics news on Tuesday, Reserve Bank of Australia governor Glenn Stevens is due to speak at the Australian Securities and Investments Commission annual forum in Sydney.

Also, the Australian Office of Financial Management will auction $250 million of April 2027 Treasury indexed bonds.


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