Curve has flattened a touch in the.....>

AUSSIE BONDS: Curve has flattened a touch in the wake of the latest address from

RBA Governor Lowe, perhaps assessing the following passage as a higher bar to

further easing: "(Yesterday's) decision also reflects a judgement about the

benefits from a further reduction in interest rates against some of the costs

and risks associated with very low interest rates."

- However, he noted that "If the unemployment rate were to be trending in the

wrong direction and there was no further progress being made towards the

inflation target, the balance of arguments would change." Initial speech

ongoing, still.

- YM -9.5, XM -10.0, hitting fresh lows post-Lowe speech.

- Bills sit 4-9 ticks lower through the reds.