Aussie bond futures tumble on..........>

AUSSIE BONDS: Aussie bond futures tumble on stronger than expected headline jobs

growth, although this was purely the result of part time job gains.

Participation rate steady, unemployment falls by 0.1ppt to 5.1%. Makes it two

months in a row in terms of strong beats vs. headline expectations, but part

time jobs have been the driver of the headline over that period, muddies the

water a little re: RBA inference. Underemployment steady at 8.3%,

underutilisation ticks down to 13.4% from 13.5%.

- YM -4.5, XM back to unchanged levels, curve bear flattens on the back of the

data, with YM/XM into 39.5 last, after printing as low as 36.0 post-data.

- Bills print 3-5 ticks lower through the reds, front end leading the sell off.