Price action in the FI space in early.........>

BONDS: Price action in the FI space in early Asia-Pacific trade has largely seen

a consolidation of Thursday's strong bid that came about on the back of the

dovish ECB meeting, cautious comments from Fed Governor Brainard & a heavy 24

hours or so for equities. Elsewhere, there has been little in the way of lasting

market-moving news flow apparent thus far. T-Notes last trade -0.02 at 122.19,

with U.S. 10-Year cash Tsy yield at 2.641%, 0.2bp higher on the day. Eurodollar

contracts are trading -0.25 to -1.00 tick through the reds.

- JGB futures have added 15 ticks and finished the morning session at 152.78.

Yields declined 0.6 to 2.4bp across the curve, with bull flattening apparent.

The space has been pressured after a larger than exp. upward revision of

Japanese GDP, but recovered as the Nikkei 225 ebbed lower.

- Aussie bond yields trade 1.2 to 4.8bp lower, with the longer end of the curve

outperforming. YM trades +0.5 tick at writing, with XM 4.5 ticks higher. YM/XM

is 4 ticks lower, last at 42.50. Futures briefly spiked higher, after AOFM

weekly issuance schedule revealed that there will be no conventional bond supply

next week, with only one small I/L tender noted.