Bonds futures had a brief blip lower...>

AUSSIE BONDS: Bonds 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, with the contracts operating around the SYCOM closing

levels once again at writing.

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

3-10-Year cash yield differential trades at ~65.0bp.

- The Bill strip has had a quiet start, with activity centred in IRZ8 post-NZ

CPI. The strip last deals 1 tick higher to 1 tick lower.

- Focus today falls on the minutes from the RBA's latest MonPol decision.

- 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.