Little to pen for Aussie Bonds, with...>

AUSSIE BONDS: Little to pen for Aussie Bonds, with futures struggling for

direction ahead of tomorrow's supply (A$3.0bn worth of new ACGB 1.50% 21 June

2031).

- YM +0.5 tick, with XM +1.0 tick. YM/XM trades at 43.0 ticks, with the cash

equivalent at 40.7bp.

- Bills are 2 ticks lower to 1 tick higher through the reds, although the

deviations from unchanged levels have come in IRM9 & IRU9, the front 2

contracts. Repo ops saw the RBA allot $1.025bn worth of 9-day ops at an average

of 1.611%, with A$1.686bn worth of 57-day ops allotted at an average of 1.471%.

- The aforementioned ACGB supply provides the highlight of tomorrow's docket.