| Close | Previous Close | Change | |
|---|---|---|---|
| Australia 3-year bond* (%) | 3.55 | 3.55 | 0.00 |
| Australia 10-year bond* (%) | 3.98 | 3.98 | 0.00 |
| Australia 20-year bond* (%) | 4.28 | 4.28 | 0.00 |
| United States 2-year bond (%) | 4.71 | 4.63 | 0.08 |
| United States 10-year bond (%) | 4.31 | 4.21 | 0.10 |
| United States 30-year bond (%) | 4.46 | 4.35 | 0.11 |
* Implied yields from June 2024 futures. As at 1 April.
LOCAL MARKETS
Markets closed.
US MARKETS
US Treasury bond yields rose significantly across the curve on Monday night (AEST). Data releases included February construction spending figures and the ISM’s March manufacturing PMI.
The next FOMC meeting ends on 1 May. May federal funds futures implied an average cash rate of 5.315% for the month and thus a small probability of a 25bp rate cut at the meeting. However, March 2025 contracts implied a 4.505% rate, 82bps less than the current rate.
