Aust bonds weaker in quiet trade
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SYDNEY, Feb 12 AAP
February 12 2013, 09:03AM
Australian bond futures prices have followed US Treasuries weaker on a quiet night for US markets with no economic news to drive prices.
At 0830 AEDT on Tuesday, the March 10-year bond futures contract was trading at 96.565 (implying a yield of 3.435 per cent), down from 96.580 (3.420 per cent) on Monday.
The March three-year bond futures contract was at 97.210 (2.790 per cent), down from 97.230 (2.770 per cent).
St George chief economist Hans Kunnen said US equity markets traded in low volumes after their rally in recent weeks.
"There was no new economic news and European markets were equally lacklustre," he said.
"With equities flat, bonds remained in a very tight range overnight."
Economic data out on Tuesday includes the National Australia Bank business survey for January.