Although the session kicked off with...>

BOND SUMMARY: Although the session kicked off with a mildly defensive feel,

linked to a mix of well documented factors, sentiment has gradually improved,

even as regional headline flow has been relatively thin.

- T-Notes have wiped out their early uptick and last deal +0-00+ at 138-25+.

Cash trade sees yields little changed across the curve. Eurodollar futures last

sit -0.5 to +0.5 tick through the reds.

- JGB futures have ebbed lower as the Nikkei 225 has recouped its initial

losses. The contract trades at 152.10, 3 ticks above settlement. Cash JGB yields

sit lower, with a degree of flattening creeping in. Focus in Japan fell on BoJ

1-10 Year Rinban ops, with all purchase sizes left unchanged.

- In Australia, YM is unch. & XM -0.5. Yields are marginally mixed in cash

trade. Bills last seen -1 to +1 tick through the reds. The AOFM auctioned

A$2.0bn worth of ACGB 2.75% 21 Apr 2024. RBA Gov Lowe appeared at a university

forum, noting that Australia's central bank is likely to keep interest rates low

& downplaying the need to target a specific unemployment rate.