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Dollar above parity on G20 comments

Dollar above parity on G20 comments

Fri June 15, 2012 11:09am

Westpac's head of interest rates, Russell Jones, said the local bond futures market had been relatively quiet on Friday as cautious investors await the election results and the outcome of a G20 meeting next week.

"Against this background of all the uncertainty in Europe I think very few people are really wanting to take big positions," he said.

At 4.30pm AEST the September 10-year bond futures contract was at 97.015 (implying a yield of 2.985 per cent) down from 97.080 (2.920 per cent) on Thursday.

The September three-year bond futures contract was at 97.715 (2.285 per cent), down from 97.745 (2.255 per cent).

The Reserve Bank of Australia's Trade Weighted Index was at 75.3, up from 75.00 on Thursday.

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