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Australian bonds remain flat in silent session as investors attempt to reclaim lost risk appetite

Australian government bonds remained flat during Asian trading session Wednesday amid a silent trading session that witnessed data of little economic significance as investors attempt to re-gain their lost positions owing to weaker risk appetite as the United States and China engaged themselves in a trade war tussle.

The yield on Australia’s benchmark 10-year note, which moves inversely to its price, hovered around 1.644 percent, the yield on the long-term 30-year bond steadied at 2.289 percent while the yield on short-term 2-year slumped 4 basis points to 1.198 percent by 03:55GMT.

Global risk sentiments received a short reprieve as the US granted Huawei a 90-day relief period for certain US broadband companies using their equipment. Wall Street rose overnight, with the UST bond yields higher amid a bear-flattening bias on the back of slightly easing trade tensions while quickly digesting the OECD downgrade of 2019 global growth forecast from 3.3 percent to 3.2 percent, OCBC Daily Treasury Outlook reported.

Fed’s Bullard opined that the central bank may have “slightly overdone it” by hiking rates in December and “if anything we are a little restrictive”, but “I was pleased that the committee pivoted”, the report added.

Meanwhile, the S&P/ASX 200 index remained flat at 6,507.5 by 04:05GMT, while at 04:00GMT, the FxWirePro's Hourly AUD Strength Index remained neutral at -35.21 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 819289819289m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 819289819289m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 831109831109m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 819289819289m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 831109831109m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 819289819289m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 819289819289m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 819289819289m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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