Australian bonds nearly flat in subdued trade, Stevens’ speech eyed

The Australian government bonds traded nearly flat Tuesday, succumbing to thin trading activity during a relatively quiet session that saw data of little significance.

Also, investors await the Reserve Bank of Australia Governor Glenn Stevens’ speech, which is scheduled to take place on August 10 at 03:05 GMT. 

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, hovered around 1.95 percent mark and the yield on short-term 2-year note remained steady at 1.49 percent by 04:20 GMT.

According to National Australia Bank monthly business survey for July, business conditions came in at 8, from 12 in June, while business confidence fell to 4, from 6 in June. The survey noted that business conditions remained well above the long-run average and sales were strong. Also, employment index held above average at 4, forward orders and capex remained above the long-run average.

Moreover, Australia Roy Morgan ANZ weekly consumer sentiment fell to 114.7, from 118.00 in the previous week, down 2.8 percent in the week to August 7. Additionally, consumers' views of their current finances down 2.8 percent and future finances views down 2.4 percent. Also, view of the 12-month economic outlook declined 8.6 percent and economic outlook in the next 5 years, the index dropped 1.0 percent.

Meanwhile, the benchmark Australia's S&P/ASX 200 index traded 0.01 percent higher to 5,497.5 by 04:20 GMT.