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Australian bonds flat in subdued trade; RBA March meeting minutes paint mixed picture

The Australian bonds traded in a tight range Tuesday as investors refrained from any major activity amid a light trading session. Also, the Reserve Bank of Australia’s (RBA) March monetary policy meeting minutes, painted a mixed picture of the economy, adding sluggishness to market sentiments.

The yield on the benchmark 10-year Treasury note, hovered around 2.82 percent, the yield on 15-year note also traded flat at 3.21 percent and the yield on short-term 2-year remained steady at 1.81 percent by 04:20 GMT.

The minutes of the RBA March board meeting continued to paint the picture of an RBA unwilling to move official interest rates anytime soon. The Board highlighted a range of positives, but concerns were also raised. The central bank was notably more upbeat about the global outlook and the flow on effect to higher commodity prices.

Concerns surrounding the outlook for the labor market were apparent, with the RBA noting that "conditions had remained mixed" and that "momentum in the labor market remained difficult to assess". A further mixed picture on the labor market leaves the RBA between a rock and a hard place.

Lastly, markets will now be focussing on the RBA Deputy Governor Guy Debelle’s speech, scheduled to be held on March 22 for further direction in the debt market.

Meanwhile, the ASX 200 index traded 0.17 percent up at 5,762.50 at 04:40GMT, while at 04:00GMT, the FxWirePro's Hourly AUD Strength Index remained neural at 72.23 (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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2017-09-22 21:05:48
0m

September 22 14:30 UTC Released

USECRI Weekly Annualized*

Actual

0.0 %

Forecast

Previous

0.3 %

September 22 14:30 UTC Released

USECRI Weekly Index*

Actual

143.4 %

Forecast

Previous

143.3 %

September 25 00:30 UTC 10661066m

JPNikkei Mfg PMI

Actual

Forecast

Previous

52.2 bln $

September 25 08:00 UTC 15161516m

DEIfo Business Climate*

Actual

Forecast

116.0 %

Previous

115.9 %

September 25 08:00 UTC 15161516m

DEIfo Current Conditions*

Actual

Forecast

124.8 %

Previous

124.6 %

September 25 08:00 UTC 15161516m

DEIfo Expectations*

Actual

Forecast

107.9 %

Previous

107.9 %

September 25 11:30 UTC 17261726m

TRCapacity Utilisation*

Actual

Forecast

Previous

78.8 %

September 25 11:30 UTC 17261726m

TRManufacturing Confidence*

Actual

Forecast

Previous

110.7 %

September 25 12:30 UTC 17861786m

USNational Activity Index*

Actual

Forecast

Previous

-0.01 %

September 25 13:00 UTC 18161816m

MXIGAE Econ Activity YY

Actual

Forecast

Previous

2.4 %

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