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SYDNEY, Sept 3 Asia Pulse - The Australian bond market has opened weaker today, tracking US Treasuries which lost ground on Friday as investors turned their attention to stocks.
At 0900 AEST, the yield on the Commonwealth Government February 2017 bond was at 5.925 per cent, up from Friday's close of 5.913 per cent, while the August 2010 bond yield was at 6.200 per cent, unchanged from Friday.
The September 10-year bond futures contract was 94.050 from 94.070, while the three-year contract was at 93.780 from 93.805.
Grange Securities chief economist Stephen Roberts said speeches from US President George Bush and Federal Reserve chairman Ben Bernanke had given investors confidence, prompting a rally in US equities on Friday.
The rally on Wall Street was at the expense of US Treasuries which fell in price as investors focused on stocks. The Australian bond market has followed suit.
"US equity markets strengthened on Friday after speeches from President Bush ...