With the austerity measures being considered by parliament of Greece, the Australian bond market finished at a weak state. It has gone down by almost 1 % as the investors are waiting for the parliament’s decision.

On Wednesday, at 1630 AEST, the September 10 year bond futures contract was trading at 94.805, which was earlier at 94.925, down by 5.075%. on the other hand, the September three-year bond futures contract was down by
4.580, which means earlier it was at 95.420, but now went down to 95.280.

Deutsche Bank Fixed Income Strategist David Plank said, “Australian bonds rallied strongly early in the week, especially shorter maturities, after concerns over Greece's sovereign debt crisis flared up over the weekend”.

The outlook has been re-checked on Tuesday and Wednesday, as the bond prices has gone down, though no main economic data has influenced the market. However, the news of the hopes for approving Greece austerity measures will not further influence the market at the down state.

Mr. Plank said that the financial matters and the queries of fiscal sustainability will keep on affecting the market in the coming years.

The Australian share market has kept its power of the trade as it has experienced positive leads from Wall Street.