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A calmer session for the space.........>

AUSSIE BONDS
AUSSIE BONDS: A calmer session for the space today, underpinned by yesterday's
dovish rhetoric from RBA Governor Lowe, as well as the cloudier global trade
situation evident overnight.
- In terms of local data, completed construction work fell again in Q1, while
skilled job vacancies also continued to fall.
- YM & XM are unchanged. YM/XM at 47.5 ticks, with the cash equiv at 44.5bp.
Bills trade unch.-1 tick higher through the reds. 3-Month BBSW fixed ~5bp lower
after Lowe's dovish rhetoric yesterday.
- OIS price a 75% chance of an RBA cut next month, IBs price a 95% chance of
such a move.
- Pricing of previously announced corporate issuance was noted.
- CBA PMI data headlines tomorrow.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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