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

AUSSIE BONDS: Little to pen for Aussie bonds, with the space looking through

next week's heavy AOFM issuance schedule (likely aided by the fact that there

will be no ACGB issuance in the week commencing July 22), namely A$1.6bn of ACGB

1.50% 21 June 2031, which equates to ~A$1.74mn worth of DV01 risk.

- The major contracts largely tracked Tsys. YM last -6.0 ticks, XM -11.0 ticks.

YM/XM steeper at 48.5 ticks as a result, with the cash equivalent at 44.6bp.

- Bills trade 1-6 ticks lower than settlement at writing. RBA repo operations

saw A$805mn worth of 11-day ops dealt at an average of 1.318%, with A865mn worth

of 35-day ops dealt at an average of 1.286%.

- Participants are still on the lookout for Chinese trade data, with Chinese GDP

presenting the main risk event during domestic hours on Monday. Meanwhile, the

RBA's July meeting minutes and labour market report headline the domestic docket

next week.