Technical resistance, a stronger.......>

AUSSIE BONDS: Technical resistance, a stronger than exp. house price release & a

slightly more upbeat message from the RBA in its latest minutes saw the space

pull back from session highs (for our Analysis piece on the RBA mins see Main

Wire at 00:44 03/20).

- 3-Year Bond futures last trade at 97.870 (-0.5 tick) while 10-Year Bond

futures trade at 97.290 (+1.0 tick). The domestic 3-/10-Year yield differential

trades 0.6bp flatter at 64.5bp, while the AU/US 10-Year spread is wider, but is

back from the deepest discount seen on the session, last at 16.6bp.

- 3-Month BBSW fixed unch., making today the first day in March that hasn't seen

a higher fix. The Bill strip is unchanged to 2 ticks softer across the white and

red contracts, back from session highs. While steepener interest was noted

earlier in the IRZ8H9 spread.

- Focus now moves on to comments from the RBA's Bullock on a panel later today,

ahead of the FOMC MonPol decision on Wednesday & domestic labour market report

on Thursday.