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Bonds, Australian bonds jump tracking U.S. treasuries ahead of January employment report

Bonds, Australian bonds jump tracking U.S. treasuries ahead of January employment report

Australian bonds jumped during early Asian session at the start of the week Monday, tracking similar movement in the U.S. counterpart as investors wait to watch the former’s employment report for the month of January, scheduled to be released on February 15 by 00:30GMT for further insight into the debt market.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, jumped nearly 4 basis points to 2.88 percent, the yield on the long-term 30-year note surged 4-1/2 basis points to 3.47 percent and the yield on short-term 2-year traded nearly 3-1/2 basis points higher at 2.02 percent 03:05GMT.

Fed rhetoric suggests no knee-jerk concern about last week’s market volatility, with Kaplan opining the recent selloff as a “market event” that could be “healthy”. Meanwhile, wholesale inventories rose 0.4 percent m/m in December 2017.

Meanwhile, the S&P/ASX 200 index traded 0.08 percent lower at 5,751.5 by 03:10 GMT, while at 03:00GMT, the FxWirePro’s Hourly AUD Strength Index neutral at -56.75 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend).

Source: FXWire Commentary

 

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