Bond futures had a brief blip lower....>

AUSSIE BONDS: Bond futures had a brief blip lower after the open, aided by a

stronger than expected NZ CPI release, although the move was short lived and

limited in its degree. An uptick in broader risk sentiment applied some limited

pressure in subsequent trade, as futures finished a touch lower on the day.

- There was no notable reaction to the release of the minutes from the RBA's

most recent MonPol decision, with the Bank's medium term MonPol views remaining

unchanged, and little fresh information apparent in the details of the meeting.

The RBA's glass remains half-full.

- The AU/U.S. 10-Year yield spread hovers around -45bp, while the domestic

3-10-Year cash yield differential trades at ~65.5bp.

- 3-Month BBSW eased by 0.5bp, while repo rates registered month-to-date highs.

Bill strip activity was limited, with activity centred in IRZ8 post-NZ CPI. The

strip closed unchanged to 2 ticks lower.

- Later in the week attention will move to the domestic labour market report, an

address from RBA's Debelle re: the labour market and AOFM issuance.