Curve has twist flattened a touch......>

AUSSIE BONDS: Curve has twist flattened a touch since yesterday's settlement,

with the rebound in Tsys ahead of the long U.S. holiday weekend helping XM away

from its SYCOM lows after the initial knee-jerk lower post-NFPs (meaning the

contract failed to challenge 99.000/1.00% in implied yield terms).

- Sino-Aussie tensions remain elevated, whether that be via tariffs on

Australian beef exports, or matters surrounding Hong Kong.

- No reaction to AiG PCI data, nor final CBA services & composite PMI readings,

with the latter prints showing mere marginal deviations from the flash

estimates.

- Bills virtually unchanged through the reds.

- Today will see local retail sales data and A$2.0bn worth of ACGB '24 supply,

as well as the release of the latest AOFM weekly issuance schedule.