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Australian government bonds gained on the last trading day of the week Friday amid rising fears of a trade war between world’s biggest economies after U.S. President Donald Trump threatens further $100 billion in tariffs against China.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, fell 1/2 basis point to 2.667 percent, the yield on the long-term 30-year note dipped 1/2 basis point to 3.276 percent and the yield on short-term 2-year also fell 1 basis point to 2.048 percent by 04:00 GMT.
In the United States, Treasuries drifted modestly lower during relatively light action overnight as markets looked ahead to the March employment report on Friday, highlighted by a push by the 10-year Note yield back about the 2.80 percent mark.
On the data front, markets saw greater than an expected upward pressure in both jobless claims, increasing +24K to 242K and trade balance data (widening to -$57.6 billion in February, versus -$56.7 billion in January, though neither of which had a substantial impact ahead of non-farm payrolls.
Meanwhile, the S&P/ASX 200 index traded 0.40 percent lower at 5,766.5 by 04:20 GMT, while at 04:00GMT, the FxWirePro's Hourly AUD Strength Index remained neutral at -51.97 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
