| Close | Previous Close | Change | |
|---|---|---|---|
| Australian 3-year bond (%) | 3.778 | 3.757 | 0.021 |
| Australian 10-year bond (%) | 4.431 | 4.393 | 0.038 |
| Australian 30-year bond (%) | 4.958 | 4.947 | 0.011 |
| United States 2-year bond (%) | 4.214 | 4.251 | -0.037 |
| United States 10-year bond (%) | 4.513 | 4.553 | -0.040 |
| United States 30-year bond (%) | 4.748 | 4.7836 | -0.036 |
* Implied yields from March 2025 futures. As at 03 February.
LOCAL BOND MARKETS
Australian bond yields exhibited a mixed performance, with short- and mid-term yields experiencing slight increases, while long-term yields edged lower. The 3-year bond yield rose by 1 basis point to 3.757%, and the 10-year yield gained 1.3 basis points to 4.393%. In contrast, the 30-year yield dipped 0.7 basis points to 4.947%, indicating a potential flattening of the yield curve at the long end.
US MARKETS
US Treasury bonds rallied, with yields moving lower across the curve in a typical flight-to-quality response and continuing the downward trajectory since mid-January. The dollar also rallied as investors sought quality exposure.
The yield on the 10-year Treasury note climbed to 4.54% before retreating to 4.50%. Perhaps more significant is the 30-basis-point move lower in Treasury yields this month.
