Curve holds flatter in early Sydney....>

AUSSIE BONDS: Curve holds flatter in early Sydney trade, with XM threatening a

clean break through its overnight high after tracking the impetus in Tsys. YM

unch., XM +2.0. Market contact flagged decent receiving of AUD 5y5y overnight,

as players looked to fade Monday's global back up in yields KEXIM launched

3-Year fixed and/or floating AUD paper this morning, while Tuesday saw Scentre

price up a US$1.5bn 2-parter, evenly split between 5- & 10-Year fixed offerings.

- A reminder that the New South Wales state Premier revealed that the state will

be removing travel restrictions from June 1 earlier this morning. Elsewhere,

there was Little reaction in the space to the latest round of Sino-Australian

trade sabre rattling late in Sydney hours on Tuesday, as a BBG source report

pointed to China potentially implementing Australian dairy and wine export

tariffs (among other products), with any such move based on Australia's response

to the recently outlined barley tariffs.

- Today brings the release of the Westpac leading index, skilled vacancies data

and prelim retail sales print from the ABS. Elsewhere, we will also get A$2.0bn

worth of ACGB 2032 supply.