Fed Chair Powell offered little new....>

BOND SUMMARY: Fed Chair Powell offered little new in his latest address, while

the potential for looser mortgages conditions, outlined in the latest proposal

from the APRA, has weighed on Asussie fixed income. T-Notes have stuck to a

tight range, last trading -0-00+ at 124-08+, with the U.S. 10-Year cash Tsy

yield at 2.417%. Yields are marginally mixed across the curve.

- Aussie bond futures moved lower on the aforementioned APRA headlines, which

exerted some flattening pressure on the curve. YM last -3.0 ticks, with XM -1.0

tick, off worst levels. YM/XM trades at 44.5 ticks, with the cash equivalent at

41.1bp. Bills trade 2-4 ticks lower through the reds.

The RBA's May meeting minutes and address from Governor Lowe are due over the

next couple of hours or so and will likely go a long to shaping MonPol in the

short term.

- JGB futures have stuck to a tight range ahead of the latest round of BoJ

Rinban ops covering 1-10 Year JGBs, last trading unch, cash yields marginally

mixed.

- German FI a little lower; Schatz unch., Bobls -2.0 ticks, Bunds -13 ticks.