Little reaction in IBG0 to the.........>

AUSSIE BONDS: Little reaction in IBG0 to the stronger than expected retail sales

data out of Australia, small selling at 99.350/345 before the buyers stepped

back in, with paper paying 99.345 on ~1.8K over several clips. 98.350 lifted in

smalls, and goes back bid, left 99.350/99.360 last.

- One contact suggests RBA likely to look on the bright side re: this release,

but it shouldn't be strong enough to stop any action in isolation. As we

mentioned earlier, Black Friday likely to front load activity out of Dec print.

- IBs price a 45% chance of a cut at next month's RBA decision, back from the

~60% seen earlier this week.