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AUSTRALIAN BOND MARKET OPENS WEAKER - JUNE 2, 2008.
SYDNEY, June 2 Asia Pulse - The Australian bond market has opened weaker, underperforming US Treasuries, ahead of a busy week for local data and economic events.
At 0830 AEST, the yield on the Commonwealth Government February 2017 bond was at 6.545 per cent, up from Friday's close of 6.543 per cent, while the August 2010 bond was at 6.830 per cent, down from Friday's close of 6.910 per cent.
On the Sydney Futures Exchange, the June 10-year bond futures contract price was at 93.420, down from Friday's close of 93.455, while the June three-year contract price was at 93.235, down from yesterday's close of 93.250.
ANZ market strategist Patricia Gacis said the weakness on the local bond market might have been some investor positioning ahead of an domestic interest rate decision on Tuesday and the latest national accounts figures to be released on Wednesday, in a big week of data releases.
"We're probably going to be data watching today and probably for the rest of the week as well," Ms Gacis said.
Today, the TD Securities-Melbourne Institute inflation gauge, April retail sales figures and March quarter business indicators figures are due.
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