Matters across the Tasman, in the......>

AUSSIE BONDS: Matters across the Tasman, in the form of the RBNZ decision, added

some downward impetus to the Aussie bond space. YM finished -3.0, XM -4.5, curve

1.5 steeper as a result, YM/XM shut at 33.5.

- SAFA launched its new 1.75% 24 May 2032 line, while the AOFM tapped its ACGB

2.50% 21 May 2030 for A$1.3bn. When adjusted for auction size the cover ratio

was actually a tad firmer vs. the most previous offering of the ACGB.

- RBA's Heath spoke in early Sydney hours. Major headlines were covered by BBG,

as Heath noted that the "outlook for consumption remains a major uncertainty,"

although she does see a "consumption rise based on the tight labour market." She

also pointed to the growth boost that will be seen in the wake of the bushfires,

owing to rebuilds, and the "fluid" nature of the Coronavirus outbreak.

- On the data front, Westpac consumer confidence moved higher, although it

remained below 100. The scale of the move (+2.1 from 93.4 to 95.5) may have

taken some by surprise, given the bushfire & Coronavirus backdrop.

- Bills were 1-3 ticks lower through the reds come the close.

- Consumer inflation expectations headline tomorrow's local docket.