Aust bonds open fractionally weaker THE Australian bond market has opened fractionally weaker after a quiet offshore session where investors took direction from a positive night on Wall Street and hopes of a resolution in Cyprus. At 0830 AEDT on Monday, the June 10-year bond futures contract was at 96.415 (implying a yield of 3.585 per cent), down slightly from Friday's local close of 96.435 (3.565 per cent). The June three-year bond futures contract was at 96.970 (3.030 per cent), down from 97.000 (3.000 per cent) previously. Wall Street finished higher on Friday night (AEDT), with the S&P500 climbing 0.72 per cent and the Dow closing up 0.63 per cent. Meanwhile, on the other side of the Atlantic, European finance ministers were discussing the Cyprus banking crisis at a gathering in Finland. ANZ economists said the market was looking to Cyprus for direction. "US Treasuries were little changed on Friday night in a low volume day as investors stayed on the sidelines, waiting for a resolution on Cyprus," ANZ said in a research note. Australian bond futures were similarly unchanged.