The Australian government bonds jumped during Asian session Thursday tracking a similar movement in the United States Treasuries amid surging safe-haven demand ahead of the country’s trade balance data for the month of August, scheduled to be released later today for further direction in the debt market.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 3-1/2 basis points to 0.932 percent, the yield on the long-term 30-year bond surged nearly 3 basis points to 1.549 percent and the yield on short-term 2-year remained nearly 1-1/2 basis points higher at 0.654 percent by 04:15GMT.
After the ISM manufacturing scare earlier this week in the US, market players must have been hoping for some relief from economic data overnight. Alas, it was not to be. Not only did the ADP payrolls print come in lower than expected for September, at 135k, the previous month’s print was also revised down significantly from 195k to 157k, OCBC Treasury Research reported.
Given the backdrop, market will pay especially close attention to tonight’s ISM services print, to gauge if the recent pains of the manufacturing sector start to affect the services part of the US economy, as well. Market is pencilling in a level of 55, lower than the 56.4 of the month before, but still comfortably within the expansionary territory. If that is indeed the case, then market might have a much-needed break, the report added.
Meanwhile, the S&P/ASX 200 index remained tad -0.40 percent down at 6,468.50 by 04:25GMT.


Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai
Best Gold Stocks to Buy Now: AABB, GOLD, GDX
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike
Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook
Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 



