Bond futures respected their SYCOM.....>

AUSSIE BONDS: Bond futures respected their SYCOM ranges during Wednesday's

Sydney session, with YM finishing unchanged and XM -0.5 tick. Curve finished

away from early steeps, with YM/XM shutting +0.5 at 32.0, still in close

proximity to recent lows.

- The A$2.0bn syndication of ACGB 2.75% 21 May 2041 was a shade over 3.00x

covered (after limiting the long end in overnight and early Sydney trade).

Elsewhere on the issuance front, QTC saw A$1.5bn of its new Nov 2024 FRN at

3-Month BBSW +23.5bp and BNG Bank tapped its 3.3% 2028 line for A$25mn at ASW

+50bp.

- There was no reaction in the space as the Y/Y Wage Price Index print met both

market and RBA exp (picture of muted wage growth intact). YM unch., XM -0.5 at

the close. Bills sit 1 tick lower to 1 tick higher through the reds. Skilled

vacancy data showed a 0.7% M/M uptick in January. Tomorrow's labour market

report was always set to dominate these lower tier indicators.

- Bills finished unchanged to 2 ticks higher through the reds.