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Space looks through the stronger.......>

AUSSIE BONDS: Space looks through the stronger than expected headline trade
surplus, with the breakdown a little disappointing.
- YM deals 0.5 tick below settlement with XM +1.5 ticks, as the space has mostly
taken the lead of the broader risk environment.
- Curve a touch flatter still, with YM/XM at 35.00.
- Bills deal 1 tick higher to 2 ticks lower through the reds.
- The RBA decision is due in ~3 hours time.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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