Aussie bond futures recovered from.....>

AUSSIE BONDS: Aussie bond futures recovered from worst levels/curve steeps after

XM made a brief showing below its SYCOM lows in early SFE trade, with the uptick

in Tsys/light risk aversion on headline flow the driving factor, although

pricing of the WATC '31 Oct bond and a slowing of job losses per the latest ABS

data limited the bounce from lows. XM then edged lower on the former, but didn't

really challenge early Sydney lows. YM -1.0, XM -6.5 at typing.

- We also saw an active corporate issuance slate, with launches for Credit

Suisse 3-Year FRN, Air Services Australia 10-Year & BNG 10-Year paper, while

Export Import Bank of Korea mandated for a potential 3- &/or 5-Year round of

issuance.

- The latest RBA meeting minutes didn't really move the needle, with little

reaction to Trade Minister Birmingham pointing to the potential for a WTO appeal

in the wake of the Chinese barley tariffs.

- Tomorrow sees the release of the Westpac leading index, skilled vacancies data

and prelim retail sales print from the ABS. Elsewhere, we will also get A$2.0bn

worth of ACGB 2032 supply.