Futures followed Tsys lower on SYCOM...>

AUSSIE BONDS: Futures followed Tsys lower on SYCOM and operate just off of the

overnight lows in early SFE trade. YM last trades -1.5 tick, with XM -4.0 ticks.

YM/XM deals at 45.0, with the cash equivalent at 45.3bp.

- Bills trade 1 to 3 ticks lower through the reds. RBA repo ops saw A$770mn

worth of 12-day ops dealt at an average of 1.83%.

- Focus falls on AU CapEx data, due at the bottom of the hour, in lieu of

yesterday's soft completed construction work reading. Monthly retail sales and

trade data already pointed to GDP headwinds, and yesterday's reading resulted in

economists alluding to downside risks to next week's GDP print, an additional

headache for the RBA.

- Participants will also pay attention to official Chinese PMI data, due today.