A very limited start for the space.....>

AUSSIE BONDS: A very limited start for the space this week, with the front YM &

XM contracts hovering around their SYCOM closing levels, 2.0 ticks and 1.5 ticks

lower on the day respectively. YM/XM last 52.5, with the cash 3-/10-Year yield

differential last 49.5bp.

- This comes after the space tracked Tsys lower late Friday.

- Some focus in an AFR piece from the weekend titled "Rate cut now a 50-50 call

for RBA's December meeting." The piece cites market pricing re: the RBA, last

week's soft Westpac consumer confidence metric & worries over the property

sector. The piece also notes that "the median economist surveyed by The

Australian Financial Review still sees rates on hold at 1.5% into 2020."

- Bills trade 1-2 ticks lower across the whites and reds. 3-Month BBSW set

~1.1bp higher today, while RBA repo op rates continue their grind higher.

A$1.46bn worth of 29-day ops were dealt at 2.113%.

- Chinese GDP data is due later today, with Brexit matters also set to shape the

broader risk environment Monday. Domestic focus falls on the latest labour

market report, due Thursday, with one eye on NZ CPI data, due Wednesday.