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Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Australian bonds remained tad higher on Tuesday tracking a similar movement in the United States’ Treasuries amid a silent trading session that witnessed data of little economic significance. However, the S&P500 index decline in the overnight session as concerns over the spread of the deadly coronavirus threatened market sentiments.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, declined nearly 1 basis point to 0.919 percent, the yield on the long-term 30-year bond remained tad 1/2 basis point down at 1.506 percent and the yield on short-term 2-year too dipped 1/2 basis point to 0.655 percent by 05:00GMT.
Another risk off session appears to be on the cards today after the overnight Wall Street slump amid growing fears about the spread of covid-19 in South Korea and Italy, OCBC Treasury Research reported.
The S&P500 saw its largest decline since February 2018, whilst UST bonds rallied further with the 10-year yield testing 1.35 percent intra-day before closing at 1.37 percent even though US Treasury secretary Mnuchin opined that the covid-19 is unlikely to have a material impact on the Phase 1 trade deal, the report added.
Meanwhile, the S&P/ASX 200 index traded tad 0.57 percent higher at 6,824.50 by 05:05GMT.
