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The Australian bonds remained flat during Asian session of the last trading day of the week Friday as investors remained side-lined in a muted session that witnessed data of little economic significance amid overall positive sentiments in the market.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, hovered around 1.186 percent, the yield on the long-term 30-year bond remained flat at 1.796 percent and the yield on short-term 2-year lost barely 1 basis point to trade at 0.780 percent by 04:15GMT.
Economic optimism fuelled the overnight rally in financial markets, as investors digested the news of the passage of the USMCA agreement and the strong US retail sales data, following the earlier signing of the US-China Phase one trade deal, OCBC Treasury Research reported.
"Asian markets may start on a positive tone this morning, while awaiting China’s key 4Q19 GDP data release where market is eyeing a steady 6 percent handle and its accompanying data dump of industrial production, retail sales, fixed asset investments etc.," the report added.
Meanwhile, the S&P/ASX 200 index traded tad -0.16 percent down at 7,017.50 by 04:25GMT.
