Australian bonds remain narrowly mixed as doubts hover around UK election result

The Australian bonds remained mixed as doubts have clouded over the United Kingdom’s general election results, in the counting today. PM Theresa May has gone into a huddle with senior Conservatives as Britain heads for a hung parliament in snap elections called by her. Labour leader Jeremy Corby has already demanded her resignation, saying he had failed to get a bigger mandate. The Conservatives are projected to get below 320 seats, much lower than their 330-seat majority in 2015.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, hovered around 2.42 percent, the yield on the 15-year note fell 1 basis point to 2.80 percent while the yield on short-term 2-year traded 1 basis point higher at 1.62 percent by 04:10 GMT.

British Prime Minister Theresa May's decision to call an early election in a bid to strengthen her grip on power appeared early Friday to have spectacularly backfired, with her Conservative Party at risk of losing its parliamentary majority, according to exit poll and partial official results.

However, this would be a humiliation for Prime Minister Theresa May, who chose to call the election to try to strengthen her hand in talks with the EU on Brexit. Labour leader Jeremy Corbyn urged her to resign, but she said her party would "ensure" stability in the UK.

Meanwhile, the ASX 200 index traded 0.14 percent higher at 5,687.50 by 04:10GMT, while at 04:00GMT, the FxWirePro's Hourly AUD Strength Index remained slightly bullish at 90.24 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex