Aust bonds weaker on profit taking AUSTRALIAN bond futures are weaker after investors took profits overnight following recent gains. Westpac interest rate strategist Tim Jung said local bond futures prices fell overnight after rising sharply in the wake of Italian election results which resulted in a political stalemate in the euro zone's third largest economy. "It's been a very bullish week for bonds but it does look like it's starting to pull back," Mr Jung said. It looks like some people have taken profit on any long positions they've taken. Mr Jung said the market would move in a narrow range on Thursday morning as traders waited for the release of domestic capital expenditure data for the December quarter at 1130 AEDT. At 0830 AEDT on Wednesday, the March 10-year bond futures contract was trading at 96.660 (implying a yield of 3.340 per cent), down from 96.690 (3.310 per cent) on Tuesday. The March three-year bond futures contract was at 97.260 (2.740 per cent), down from 97.290 (2.710 per cent).