Core global FI activity has settled....>

BOND SUMMARY: Core global FI activity has settled as participants take stock of

the recent swings in FI prices ahead of regional event risk in the Asia-Pac time

zone.

- T-Notes +0-04+ at 129-01+ at writing, with yields near enough unchanged across

the curve. Little to report outside of the early bid on the back of the U.S.

TR's response to French digital tax matters. Eurodollar futures -0.25 to +1.0

tick through the reds.

- Aussie bonds have looked through the wider than expected current account

surplus and export contribution to GDP data, with a focus on the upcoming RBA

MonPol decision (see earlier bullets for our preview). Volume running heavy

after a busy overnight session. YM -2.0, XM -3.0. Bills unchanged to 2 ticks

lower through the reds.

- The latest rumours surrounding Japanese fiscal matters applied light pressure

to JGBs, but the contract continues to hold around unchanged levels. Yields

little changed across the curve. Local focus is on 10-Year JGB supply, with

little in the way of fresh substance from BoJ Governor Kuroda thus far.