| Close | Previous Close | Change | |
|---|---|---|---|
| Australia 3-year bond* (%) | 4.10 | 4.13 | -0.03 |
| Australia 10-year bond* (%) | 4.50 | 4.54 | -0.04 |
| Australia 20-year bond* (%) | 4.77 | 4.80 | -0.03 |
| United States 2-year bond (%) | 4.98 | 5.00 | -0.02 |
| United States 10-year bond (%) | 4.62 | 4.67 | -0.05 |
| United States 30-year bond (%) | 4.73 | 4.78 | -0.05 |
* Implied yields from June 2024 futures. As at 29 April.
LOCAL MARKETS
Australian Commonwealth Government Bond yields fell moderately across the curve, in contrast with the increases of US Treasury yields on Friday night (AEST). There were no data releases.
The next RBA Board meeting ends on 7 May. May futures imply an average cash rate of 4.305% for the month and thus a zero probability of a 25bp rate cut at the meeting.
US MARKETS
US Treasury bond yields fell across the curve. The Dallas Fed index was the only data release.
The next FOMC meeting ends on 1 May. May federal funds futures implied an average cash rate of 5.32% for the month and thus a near-zero probability of a 25bp rate cut at the meeting. However, April 2025 contracts implied 4.81%, 51bps less than the current rate.
