Aussie Bonds struggled for.............>

AUSSIE BONDS: Aussie Bonds struggled for direction, much the same as US Tsys,

operating within a tight range, with 3-Year Bond futures last trading at 97.735

(-2.5 ticks), while 10-Year Bond futures trade at 97.225 (-2.0 ticks).

- The minutes from the RBA's most recent MonPol meeting revealed little in the

way of new information, while Chinese GDP data held no surprises, as a result,

the space shrugged off both releases.

- The domestic 3-10 Year yield differential last trades 0.5bp flatter at 52.2bp,

while the AU/US 10-Year spread trades 2.0bp tighter at -7.5bp. The domestic

curve continues to trade at the whim of global risk sentiment, with the RBA well

and truly in wait and see mode.

- 3-Month BBSW fixed unchanged today. The white Bill contracts are outperforming

as a result, with the front 3 contracts unchanged to a tick higher, while the

remainder of the white and red contracts last trade 1-2 ticks lower alongside

Bonds.