Australian bond futures prices are lower as investors await the outcome of key central bank meetings in Europe and the US.
At 1630 AEST on Wednesday, the September 10-year bond futures contract was trading at 96.970 (implying a yield of 3.030 per cent), down from 96.995 (3.005 per cent) on Tuesday.
The September three-year bond futures contract was at 97.440 (2.560 per cent), down from 97.480 (2.520 per cent).
ANZ senior rates strategist Tony Morriss said there was understandably little activity on markets, given the upcoming meetings of the Federal Open Market Committee (FOMC) of the US Federal Reserve, and the European Central Bank (ECB).
"The volume in markets is pretty light," he said.
"We had two pieces of data today - Chinese PMI (purchasing managers' index) and house price index figures (locally).
"The PMIs were of note just because they were so weak, but the housing data didn't seem to have much impact."
China's official PMI showed that manufacturing activity was down at an eight-month low in July.
Data from the Australian Bureau of Statistics showed that house prices in capital cities rose 0.5 per cent in the June quarter.
Economists had expected a 0.7 per cent fall.
Mr Morris said investors were waiting to see what would happen at the ECB meeting on Thursday night, Australian time.
"Even the Fed meeting will probably have a limited impact," he said of its meeting beginning in the early hours of Thursdsay morning Australian time.
"The ECB's the big one."
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