On the domestic money market front the RBA......>

RBA: On the domestic money market front the RBA minutes stated that "members

noted that Australian long-term bond yields had moved broadly in line with

developments in global markets in recent months and remained below US long-term

bond yields. Money market rates in Australia had also been moving broadly in

line with those in international markets earlier in the year, but in the weeks

preceding the meeting had increased independently of other markets. Members

observed that this was consistent with the recent pattern of rising funding

pressures at the end of each calendar quarter, and noted that it was uncertain

how persistent these pressures would be. As a result, funding costs for the

major banks had risen a little over 2018, reflecting the higher bank bill swap

rate over this period, but had remained low relative to history. Banks' net bond

issuance in 2018 had been strong."