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The Australian government bonds edged tad higher during Asian session of the second trading day of the week Tuesday amid a muted session that witnessed data of little economic significance amid burgeoning worries for global growth after the release of weak European economic data yesterday.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, slipped tad 1/2 basis point to 0.987 percent, the yield on the long-term 30-year bond also remained an inch lower at 1.583 percent and the yield on short-term 2-year hovered around 0.752 percent by 03:55GMT.
Global risk sentiments softened overnight amid the disappointing manufacturing PMIs from Eurozone and Germany which weakened further to 45.6 and 41.4 respectively in September and suggested that Germany could be headed for a recession, OCBC Treasury Research reported.
The United States' President Donald Trump had questioned Treasury Secretary Mnuchin about the cancellation of the Chinese delegation’s plan to visit US farms. Wall Street closed flattish again while UST yield curve steepened led by the front-end amid the economic data disappointments, with the 10-year at 1.71 percent, the report added.
Meanwhile, the S&P/ASX 200 index edged tad 0.16 percent up to 6,734.50 by 04:00GMT.
