Space has been under some light........>

AUSSIE BONDS: Space has been under some light pressure in early Sydney trade

owing to the matters outlined in the previous U.S. Tsy bullet, after ticking

higher on SYCOM alongside Tsys. YM -0.5, XM -1.0.

- Early issuance to be aware of this week includes a mandate for new benchmark

3-Year A$ notes from Members Banking Group, while Liberty Financial has mandated

for a potential round of benchmark A$ 4-Year issuance. On the semi front, TCV

launched its new Nov 2030 line IPT at 49-52bp over futures.

- Worth recapping our latest interview with RBA board member Harper (Released

Friday). He noted that the outlook for the Australian economy, buoyed by an

improving housing market and a rosier outlook for both employment and inflation

supported by a weaker dollar, remains benign, although recent bushfires and

coronavirus could yet do damage.

- Bills unchanged to 1 tick lower through the reds.

- Local docket is empty to start the week.