AUSTRALIAN bond futures prices are higher, broadly holding onto gains achieved during weekend offshore trading.
At 1630 AEDT on Monday, the March 10-year bond futures contract was trading at 96.560 (implying a yield of 3.440 per cent), up from Friday's local close of 96.545 (3.455 per cent).
The March three-year bond futures contract was at 97.160 (implying a yield of 2.840 per cent), up from 97.140 (2.860 per cent) previously.
Australian bond futures contract prices rose in weekend offshore trading, moving in line with a rally in the US Treasury market particularly longer dated bonds.
During the local session, bonds were supported by weak economic data which showed job advertisements were down 3.8 per cent in November and the number of new housing loans slid 0.5 per cent in the month.
"Whilst the ranges have been relatively narrow, I think overall the market has found just a little bit of support today on the data," ANZ head of interest rate research Tony Morriss said.
However, a more positive picture out of Europe, coupled with upbeat economic data out of China in recent days, kept demand for fixed-income assets "relatively muted", Mr Morriss said.
Also, some investors had chosen to remain on the sidelines ahead of Australian jobs figures due out later in the week and inflation data out next week.
"I see limited scope for our market to rally too much before labour force on Thursday," Mr Morriss said.
Also, US Federal Reserve chairman Ben Bernanke was due to speak at the University of Michigan.
The event is scheduled to start at 0800 Tuesday morning (AEDT), with market players looking for more clarity on the US central bank's intentions regarding its quantitative easing program.
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