This news is not about the USA bonds, it is about Australian bonds.
While Speaker Boner is soliciting votes for his bill, it is already July 29th and a new trading day in Australia.
While Speaker Boner is soliciting votes for his bill, it is already July 29th and a new trading day in Australia.
Aust bonds climbing on US default fears (click title to entry - thank you)
July 29, 2011 - 9:34AM
...Investors are flocking to the relative safety of Australian bonds, amid a looming August 2 deadline which could see the US default on its loans, should its debt limit not be raised by the government.
At 0830 AEST on Friday, the September 10-year bond futures contract was trading at 95.110 (implying a yield of 4.890 per cent), up from 95.090 (4.910 per cent) on Thursday.
The September three-year bond futures contract was at 95.490 (4.510 per cent), up from 95.480 (4.520 per cent).
By 0915 AEST, bonds had risen further with the 10-year contract reaching 95.145 (4.855 per cent) and the three-year contract at 95.530 (4.470 per cent)....
..."Even though that might involve an eventual (credit rating) downgrade of the US, I think everyone's more concerned about what that might mean for global market sentiment."...
