Australian markets show little interest...>

AUSTRALIA: Australian markets show little interest in the local Feb labour mkt

report, as participants focus on the upcoming announcement from the RBA. The

unemployment rate unexpectedly slipped to 5.1% from 5.3%, on the back of a

surprise drop in participation rate coupled with firmer than forecast job

addition. Worth noting that employment growth was driven mostly by part-time

jobs. Underemployment held steady at 8.6% & underutilisation printed at 13.7%

vs. the prior 13.9%

- AUD/USD sits -9 pips at $0.5764. Familiar technical levels remain in play.

- Aussie bond futs have already been heavy. YM -7.5 & XM -22.5 as we type.

Yields trade -0.8bp to +23.6bp in cash trade, with curve running sharply

steeper. Bills last seen 2-3 ticks lower through the reds.