A sloppy round of A$300mn worth of.....>

AUSSIE BONDS: A sloppy round of A$300mn worth of ACGB 2.75% 21 May 2041 supply

helped to hammer home the steepening theme in Australia, in what was an

otherwise limited session.

- YM -1.5, XM -3.5. YM/XM deals at 25.0, with the cash equivalent at 22.6bp.

- The main contracts seemed reluctant to extend too far beyond their respective

SYCOM lows in a headline light session as weekend news flow was digested, while

the cash space played catch up to the moves seen after the close of Sydney

business on Friday.

- Bills trade unchanged to 3 ticks lower through the reds, with the whites

underperforming.

- RBA repo operations saw A$500mn worth of 16-day ops allotted at a weighted

average of 1.172%, A$1.12bn worth of 28-day ops allotted at a weighted average

of 1.167% & A$920mn worth of 51-day ops allotted at a weighted average of

1.137%.

- The minutes from the RBA's most recent MonPol decision headline tomorrow's

docket.