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AUSTRALIAN BOND MARKET OPENS FLAT - OCT 1, 2007.
SYDNEY, Oct 1 Asia Pulse - The Australian bond market opened little changed ahead of this week's interest rate decision, despite a small decline in US Treasury prices at the weekend.
At 0900 AEST, the yield on the Commonwealth Government February 2017 bond was at 6.160 per cent, up from Friday's close of 6.155, while the August 2010 bond was unchanged at 6.450 per cent.
The December 10-year bond futures were at 93.835, up marginally from Friday's close of 93.830, while the December three-year contract was at at 93.575, marginally down from 93.580.
The market was little changed ahead of the Reserve Bank of Australia's (RBA) interest rate announcement on Wednesday.
While many economists expect interest rates to rise at some point, they agree rates will remain at 6.50 per cent in October, an AAP survey of 18 economists shows.
ANZ said US Treasury prices eased on Friday night because of month-end position squaring and comments from US Federal Reserve (Fed) officials suggesting another rate cut was not guaranteed.
This reversed an earlier rally.
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Source: HighBeam Research, AUSTRALIAN BOND MARKET OPENS FLAT - OCT 1, 2007.