The Aussie bond space was more.........>

AUSSIE BONDS: The Aussie bond space was more focused on the broader risk

backdrop than (outdated/skewed) domestic data and a decent enough round of ACGB

2031 supply, that was easily digested (curve steepness, both vs. traditional

shorter dated paper and against 10s, aided, as did elevated ASW spread &

hedgibility with XMM0 as it forms part of the contract's underlying basket).

- Decent round of selling hit in the last few minutes (see earlier bullet for

sizes & price), allowing the major contracts to print fresh session lows

relatively late in the day.

- YM -2.0 on the day, XM -4.0, with some spill over from FI trade across the

Tasman also evident.

- Bills sit unchanged to 1 tick lower through the reds.

- On the corporate issuance front, we have seen Woolworths mandate for 5-Year A$

paper, while Worley Parsons noted that it will examine debt capital markets

towards the end of 2020.

- We now await the results of the RBA's latest round of semi government bond

purchases, after it cut the size to A$600mn for today's ops (prev. A$1.0bn).