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

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

slightly more upbeat message from the RBA in the minutes from its latest meeting

saw the space pull back from session highs, with sell side flow apparent going

in to the SFE close.

- 3-Year Bond futures last traded at 97.860 (-1.5 ticks) while 10-Year Bond

futures closed at 97.285 (+0.5 tick). The domestic 3-/10-Year yield differential

last traded 0.6bp flatter at 64.5bp, while the AU/US 10-Year spread finished

wider, but back from session wides, last at -16.2bp.

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

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

and red contracts, back from session highs as repo rates fixed higher. While

steepener interest was noted in the IRZ8H9 spread.

- RBA's Bullock offered no comments of note in her panel discussion earlier

today.