Little in the way of activity in the...>

AUSSIE BONDS: Little in the way of activity in the space was noted, with bond

futures sticking to tight ranges after they followed Tsys lower during Friday's

SYCOM session. YM -3.0 ticks, with XM -4.0 ticks. YM/XM trades at 45.00, with

the cash equivalent at 44.3bp. The U.S. holiday/broader lack of headline

developments will have hampered price action.

- The latest auction of a fairly illiquid, longer dated bond didn't see

particularly strong take up, and likely came about on the back of a dealer

request to boost liquidity. Worth highlighting that WATC has launched its 2029

bond, set to price tomorrow.

- Bills trade 1-3 ticks lower through the whites and reds, with some flattener

interest observed in IRU9Z9 earlier today. 3-Month BBSW fixed 2.1bp lower today,

while A$620mn of 10-day RBA repo ops were dealt at an average of 1.881% &

A$1.585bn worth of 57-day ops were dealt at 2.034%.

- RBA Feb meeting mins decision are due tomorrow, but it is likely that

Wednesday's wage data & Thursday's labour market report will garner more

attention, ahead of an address from RBA Governor Lowe on Friday.