Aust bonds little changed on US data
The Australian bond market is little changed following mixed economic data from the US.
Figures released in the US on Friday showed a 0.1 per cent decline in consumer spending in July, which was weaker than expected, but that was offset by a stronger than expected expansion in the manufacturing sector in August, according to the MNI Chicago Business Barometer.
Bank of New Zealand currency strategist Raiko Shareef said that resulted in a relatively quiet end to the week on global fixed interest markets.
"Overseas bond markets were fairly subdued, with month-end flows lighter than expected. With US data mixed, Treasuries were effectively unchanged for the day," Bank of New Zealand currency strategist Raiko Shareef said.
"The 10-year Treasury yield rose just 0.7 basis points to 2.34 per cent."
At 0830 AEST on Monday, the September 2014 10-year bond futures contract was trading at 96.700 (implying a yield of 3.300 per cent), down from 96.710 (3.290 per cent) on Thursday.
The September 2014 three-year bond futures contract was unchanged at 97.360 (2.640 per cent).