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AUSTRALIAN BOND MARKET OPENS WEAKER - APRIL 1, 2009.
SYDNEY, April 1 Asia Pulse - The Australian bond market has opened weaker as investors pare expectations of the central bank cutting interest rates next Tuesday.
At 0830 AEDT, the yield on the Commonwealth Government March 2019 bond was 4.440 per cent, up from Tuesday's close of 4.415 per cent, while the yield on the April 2012 bond was at 3.455 per cent, up from 3.380 per cent.
On the Sydney Futures Exchange, the June 10-year bond futures contract price was 95.545, down from Tuesday's close of 95.595, while the June three-year bond futures contract was at 96.545, down from 96.625.
ANZ senior markets strategist Tony Morriss said the local bond market was weaker as dealers lowered expectations of the Reserve Bank of Australia (RBA) cutting the cash rate at its monthly board meeting on Tuesday, April 7.
At its last meeting, in March, the RBA left the cash rate unchanged at 3.25 per cent, a 45-year low, after cutting interest rate by 400 basis points between September and February.
"There were a couple of articles from RBA watchers suggesting the RBA was going to pause next week," Mr Morriss said.
"The market is pretty defensive ...
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...total outright transactions, government bonds accounted for 57.92 per cent with the three most heavily traded issues being LB12NA (8.92 per cent), LB03OA (8.13 per cent) and LB113A (5.82 per cent). Treasury bills accounted for 17...
- The Bond Market : The bond trading this week rose 29.02 per cent.
- News wire article from: Asia Africa Intelligence Wire June 3, 2003 700+ words
...week. The daily average rose 3.21 per cent to Baht 12,779.13 million from Baht...38,625.08 million or 60.45 per cent were outright transactions and Baht 25,270.59 million or 39.55 per cent financing transactions. Of the total...
- The Bond Market : Bond Trading Increased Sharply by 42.33 per cent.
- News wire article from: Asia Africa Intelligence Wire May 27, 2003 700+ words
...26,278.19 million or 52.12 per cent were outright transactions and Baht 24,140.47 million or 47.88 per cent financing transactions. Of the total...government bonds accounted for 54.44 per cent with the three most heavily traded issues...
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- News wire article from: Asia Africa Intelligence Wire June 9, 2003 700+ words
...43,897.81 million or 65.30 per cent were outright transactions and Baht 23,328.96 million or 34.70 per cent financing transactions. Of the total...government bonds accounted for 65.72 per cent with the three most heavily traded issues...
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...to 0.73 per cent. Since 2001 transactions...the interbank bond market have been increasing...only 0.73 per cent of China's inter-bank bond market, but they have...only a 0.6 per cent share on Chinas interbank bond market before 2004...
Source: HighBeam Research, AUSTRALIAN BOND MARKET OPENS WEAKER - APRIL 1, 2009.