Both the 3-Year and the 10-Year........>

AUSSIE BONDS: Both the 3-Year and the 10-Year benchmark contracts have been very

quiet on today's SFE despite lots of Aussie data out, the 10-Year blipped mildly

higher alongside Tsy's on some TYZ7 block trading. The 3-Year contract was last

unchanged at 97.840 and the 10-Year was last up 1.5 ticks at 97.1650. 

- Aus August Home loans came in up 1% from 2.9% prior, surveyed at 0.5% and

credit card purchases came in at A$26.9bln from A$25.6bln. 

- Sources attribute the trading lull to the RBA and their recent dovish/dull

announcements, "the RBA have done very little and probably will do very little,

the country is so highly leveraged they can't raise rates." 

- On SYCOM the 3-Year lay almost flat in very thin volumes and the 10-Year only

took a slight bid alongside Tsys on the NY open, attributed to early FX-tied

black box buys with weak USD. 

- Yields up but only very slightly, Sources said "the curve is super flat."