T-bond yields proving hard to resist.

Australasian Business Intelligence, August, 2003

Jul 31, 2003 (The Australian Financial Review - ABIX via COMTEX)

International investors returned to the US bond market on 31 July 2003, attracted by the high 10-year Treasury yields. The 10-year bond yield has risen to its highest level in a year, at 4.43 per cent, compared with 3.07 per cent in June 2003. It was 4.26 per cent on 31 July. Meanwhile, Australia's 10-year government bond yield rose to 5.54 per cent in the last week of July, compared with 4.56 per cent in June. Peter Jolly, of National Australia Bank, says US Treasuries are cheap at present, compared with Australian bonds. He forecasts that the Reserve Bank will maintain official interest rates at current levels at its August 2003 meeting.

Publication Date: 1 August 2003...

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