Futures ticked higher during the.......>

AUSSIE BONDS: Futures ticked higher during the SYCOM session and have recovered

after a modest downtick in early SFE trade. YM last +2.0, XM +5.0, leaving the

curve flatter, as YM/XM deals at 34.0.

- The AU/U.S. 10-Year yield spread has been subjected to volatility in the last

few sessions, owing to the evolving trade war dynamic. The differential printed

as high as ~-62bp on Tuesday, and now sits back at ~-71bp. As a reminder, the

spread registered a historical low of ~-89bp only last week.

- Bills trade unchanged to 2 ticks higher through the reds.

- Housing finance data and ACGB 1.5% 21 Jun 2031 supply headline the local

docket today, with participants' focus also on matters surrounding China & one

eye on the RBNZ decision across the Tasman.