Australian bond futures prices are mixed as trading volumes remain low in the wake of the festive season.

Low trading volumes have seen bonds trading within narrow ranges and less responsive to economic events and data, JP Morgan interest rate strategist Sally Auld said.

“It’s been a funny sort of day where equities have really struggled but that doesn’t seem to have effected bonds too much,” Ms Auld said.

“The China non-manufacturing Purchasing Managers’ Index for December was soft but that data didn’t provide much direction either.

“There’s not really much going on at all but next week will be a bit different and as next week progresses, we should see a bit of liquidity coming back into the market.”

At 1630 AEDT on Friday, the March 10-year bond futures contract was trading at 95.695 (implying a yield of 4.305 per cent), down from 95.715 (4.285 per cent) on Thursday.

The March three-year bond futures contract was at 96.940 (3.060 per cent), up from 96.930 (3.070 per cent).