It has been a pretty uneventful........>

BOND SUMMARY: It has been a pretty uneventful start to the session, with few

fresh headlines coming through. T-Notes have slipped and last trade -0-00+ at

139-06, cash Tsy yields sit marginally higher across the curve. Eurodollars last

seen unch. to -0.5 tick through the reds.

- JGB futures crept higher from the Tokyo re-open, as the timezone played

catch-up to movements in U.S. Tsys during NY hours. The contract trades at

151.90, off highs but still +3 ticks vs. settlement. Cash trade sees some

outperformance in 10s as we type. Japanese BoP current account surplus swelled

slightly more than exp. and focus now turns to the latest Eco Watchers Survey.

- Comments from Treasurer Frydenberg, who pointed to income support measures

running beyond Sep to be announced later this month, have been ignored by ACGBs.

YM & XM are unch. as we type. Yield curve has marginally bull flattened in cash

trade. Bills are unch. to +1 tick through the reds. An auction of A$2.0bn worth

of ACGB 2.50% 31 May 2030 was the only point of note on local calendar today.