Aussie bond futures held a little......>

AUSSIE BONDS: Aussie bond futures held a little flatter in Sydney hours, YM -0.5

and XM +2.5 at typing, with the latter confined to its SYCOM range.

- Little to no reaction to a strong ACGB '25 auction, stellar flash retail sales

data (pointing to record M/M gains coming off the worst month on record) nor the

AOFM's reversion to A$5.0bn worth of ACGB issuance next week (with '29 the

longest ACGB maturity on offer, making it a little more duration light than it

could have been). Elsewhere, the latest minimum wage increase was well shy of

union demands of 4% (outlined in an earlier bullet), as the measure rose by 1.9%

(still maybe a bit of a win given the current climate, but modest in historical

terms nonetheless).

- We also saw PM Morrison detail a deepening state-led cyber-attack against

Australia, although he refrained from naming and shaming any potential culprits.

This statement came after Morrison & UK PM Johnson agreed on the need for an

independent WHO investigation re: the origins of COVID-19 on Thursday.