Australian bond futures prices are slightly lower as concerns over emerging markets fade.
Concerns over emerging markets this week, following surprise interest rate hikes by the Turkish, Indian and South African central banks, prompted large falls on global stock markets and weakened the Australian dollar.
Those fears diminished overnight but didn't have a strong impact on bond prices, St George senior economist Hans Kunnen said.
"The lift in global risk appetite overnight did not translate into a flight from bonds," Mr Kunnen said.
At 0830 AEDT on Friday, the March 2014 10-year bond futures contract was trading at 96.020 (implying a yield of 3.980 per cent), down from 96.055 (3.945 per cent) on Thursday.
The March 2014 three-year bond futures contract was at 97.120 (2.880 per cent), down from 97.150 (2.850 per cent).