Broader impetus drove the curve........>

AUSSIE BONDS: Broader impetus drove the curve steeper on SYCOM, with the theme

holding in early Sydney trade.

- Decent selling seen in both YM and XM seen thus far, which allowed the latter

to extend through its overnight lows, before a slight retrace. Contact flagged

the potential for AU/U.S. 10-Year cross market trades in early dealing (pointing

to an XM seller and T-Note buyer), although details were sparse.

- YM -1.0, XM -6.0 at typing.

- Decent enough A$ issuance doing the rounds, with today's pricing of a new WATC

Oct 2031 line the highlight.

- Bills sit 1-3 ticks lower through the reds at typing.

- The minutes from the RBA's most recent monetary policy decision and weekly

payrolls data from the ABS headline today.