Interest Rate Changes: Rising interest rates typically cause bond prices to fall, while falling interest rates usually lead to bond price increases.

Inflation Expectations: Higher inflation expectations tend to decrease bond prices as investors demand higher yields to compensate for the loss of purchasing power.

Economic Growth: Strong economic growth can sometimes put downward pressure on bond prices as investors shift towards riskier assets like stocks.

Credit Risk: Changes in the perceived creditworthiness of the Australian government can affect bond prices; higher risk leads to lower prices.

Global Market Sentiment: Overall investor confidence and risk appetite can influence demand for Australian government bonds.

Supply and Demand: Increased supply of new bonds can lower existing bond prices, while strong demand can raise them.