Aussie bonds have proved resilient.....>

AUSSIE BONDS: Aussie bonds have proved resilient on RBA Minutes announcements,

both only moving within a 3 tick range, coming up 3 ticks prior to the release

and down 2 ticks post results. The 3-Year contract was last at 97.880 and the

10-Year was last at 97.200.

- ANZ gave three key points to take from the RBA minutes release, firstly that

the RBA believe spending on the public sector infrastructure projects supports a

brighter outlook, secondly that the RBA is more comfortable with the recent

gains in AUD, previously they expressed the stronger AUD could dampen the

country's growth outlook and lastly ANZ highlighted the RBA's thoughts on policy

changes by other central banks, welcoming the increases in interest rates in

other economies but adding they don't have 'mechanical implications' for policy

setting in Aus, they said the timing of changes in rates domestically will be

dependent on changes in domestic conditions... Thursday see's Aus Labour Data so

we'll look to that as a 'domestic condition,' last months figures were strong.

- Yields are up across the curve, the 3-Year up 2.2bp and the 10-Year up 1.8bp.