Little to talk about in Aussie bonds...>

AUSSIE BONDS: Little to talk about in Aussie bonds with ACGB & corporate supply

noted. The main contracts stuck to tight ranges after the SYCOM sell-off.

- NAB adopted a more aggressive RBA call and now look for a move to 0.50% come

the end of February, "at which point the Reserve Bank would outline its plans on

unconventional policy. Unless the government delivers a meaningful fiscal

stimulus, a further cut to 0.25% by mid-2020 is likely, along with the adoption

of non-conventional monetary policy measures."

- YM -3.0, XM -5.25. YM/XM sits at 26.0 as a result with the cash equivalent at

26.1bp.

- Bills 1-4 ticks lower through the reds, excluding IRU9 which is +2 ahead of

tomorrow's expiry.

- Consumer inflation expectations headline tomorrow's docket.