Aust bonds mixed as US Feds mixed on QE Australian bond futures contract prices are mixed after two US Federal Reserve officials gave conflicting messages on American stimulus measures. US Treasury yields went up after US Fed governor Jeremy Stein told a Council on Foreign Relations audience in New York that quantitative easing could be tapered from September. But the effect of his comments were diluted as San Francisco Federal Reserve president John Williams said it was "still too early" to scale back the US central bank's bond-buying program, even if the economy was on the mend. Commonwealth Bank head of debt research Adam Donaldson said the contradictions on the US Fed's $US85 billion-a-month stimulus measures meant 10-year Australian bond futures contract prices were only marginal weaker. "There seems to be a lot of mixed messages coming out of the Fed," he said.
Ten-year Australian bond futures contract prices could rally on Monday if the Chinese Purchasing Managers' Index for June shows further weakness in the world's second biggest economy. "Australia already faces a number of headwinds: a slowdown in mining capex, and the terms of trade has already fallen off in the past year or so,
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http://www.playoffs12s.biz/, another weak reading from China could add to expectations of another near-term interest rate cut,
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At 0830 AEST on Monday, the September 10-year bond futures contract was trading at 96.205 (implying a yield of 3.795 per cent), down from 96.225 (3.775 per cent) on Friday. The September three-year bond futures contract was at 97.230 (2.770 per cent),
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