A very limited overnight session for...>

BOND SUMMARY: A very limited overnight session for the core bond markets.

Chinese trade data had no effect on the space, while the RBNZ's decision to cut

its OCR, provided a limited & short-lived uptick for Aussie paper.

- T-Notes have stuck to a tight range, last dealing at 123.28+, with yields

little changed across the curve. Eurodollar futures trade 0.5-2.5 ticks lower

through the reds.

- YM last +3.5 ticks with XM +4.0 ticks. XM was limited by yesterday's high, and

has since retraced, with YM also pulling back to pre-RBNZ levels, sticking well

within yesterday's wide range. YM/XM trades at 48.0, with the cash equivalent at

44.9bp. Bills trade 1 to 3 ticks higher through the reds, showing little

sensitivity to the move higher in BBSW fixings & RBA repo rates after the space

sold off in the wake of yesterday's RBA MonPol decision

- JGB futures have stuck to a tight range, consolidating their overnight session

uptick, with modest flattening evident in the cash space, ignoring the latest

round of 10-Year supply.

- German FI has been listless. Schatz unch., Bobls -4.0ticks, Bunds -6.0 ticks.