Focus in the Aussie bond space fell....>

AUSSIE BONDS: Focus in the Aussie bond space fell on cash flow/issuance matters,

with the chunky maturity of ACGB 4.50% 15 April '20 and bookbuild/pricing of the

new ACGB 0.25% 21 Nov '24. The latter saw a record issuance amount from the

AOFM, of A$13.0bn, after the bookbuild topped A$25.0bn. Demand would have been

aided by the RBA's YCC programme (and the aforementioned ACGB maturity/excess

cash in the system), with the prevailing yield at the syndication 0.47%, a

whopping 22bp above the Bank's target for 3-Year yields.

- Elsewhere, the RBA focused on semis in today's purchasing ops.

- Little doing for futures, during Sydney trade, in the grand scheme of things,

with YM -1.0, XM +1.0 ahead of the close. Bills unchanged to +3 through the

reds, fronts lead.

- Also worth flagging the monthly Westpac consumer confidence index revealed the

biggest monthly drop seen in the life of the survey, while ANZ's weekly metric

edged further away from the recent all-time lows.

- March's labour market report headlines tomorrow.