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A tight re-open for futures, after.....>

AUSSIE BONDS: A tight re-open for futures, after the contracts pulled back from
best levels on SYCOM in the wake of the latest FOMC MonPol decision.
- YM +2.5 with XM +3.5, leaving YM/XM at 30.0 and the cash equivalent at 26.4bp.
- Bills trade 1-2 ticks higher through the reds.
- The Australian labour market report provides the key point of interest on the
local docket today given the RBA's focus on labour market dynamics & after last
month's stellar headline jobs growth. Consensus looks for a headline employment
rise of 15.0K vs. 41.1K last month, with the unemployment rate seen steady at
5.2%. Worth flagging that the latest Australian SEEK Employment Report, released
earlier today, revealed a decline of 8.6% in jobs advertised (August 2019 vs
August 2018), while the survey found that the average advertised salary across
Australia was up 3.0% over the same horizon.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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