THE Australian bond market has opened stronger, as investors returned to safe-haven assets in response to falls on global equity markets.
At 0830 AEDT on Thursday, the June 10-year bond futures contract was trading at 96.640 (implying a yield of 3.360 per cent), up from Wednesday's close of 96.555 (3.445 per cent).
The June three-year bond futures contract was at 97.150 (2.850 per cent), up from 97.080 (2.920 per cent) previously.
US Treasuries found support during the Wall Street session - as stocks backpedalled sharply in response to some disappointing economic data - and Australian bond futures contracts followed suit.
"In the major markets there was movement out of equities and back into bonds," St George Bank said in a research note.
"Surprisingly, investors also bought the bonds of the so-called peripheral nations such as Spain, Greece and Portugal."
In New York, the Dow slipped 0.76 per cent and the S&P500 fell 1.05 per cent.
In domestic economics news on Thursday, retail sales figures and building approvals data for February are due to be released.
The Australian Industry Group's performance of construction index is also scheduled for publication.
The Australian Office of Financial Management is due to auction $1 billion of short-dated Treasury notes maturing on June 7, 2013.
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