Strong building approvals weigh on bonds September 2, 2013 - 4:55PM Australian bond futures prices are lower on the back of stronger than expected building approvals data. Building approvals across Australia rose 10.8 per cent in July, according to figures from the Australian Bureau of Statistics on Monday, exceeding economists' expectations of a four per cent rise in the month. Approvals were up 28.3 per cent over the year to July. "It's mostly been driven by the building data that came out quite strong and higher than expected," FIIG Securities associate director Jake Koundakjian said. He said Tuesday's Reserve Bank board meeting was also weighing on prices, with investors expecting the RBA to leave the cash rate on hold at 2.5 per cent.