The continued deepening of.............>

AUSSIE BONDS: The continued deepening of coronavirus angst, which resulted in a

heavy session for U.S. equity markets, put a bid in during SYCOM trade, but

neither of the major futures contracts managed to test their recent highs,

before easing off in early Sydney trade after a late fade from highs in U.S.

Tsys. 10s underperformed further vs U.S. Tsys, with that spread at ~-45.0bp as I

type.

- YM +2.0 and XM +2.5 at typing.

- Bills sit 1-2 ticks higher through the reds.

- Source notes that flows in the short-end have started to see a little more

outright receiving interest in RBA meeting dates, alongside the usual OIS

flattening trades.

- Completed construction work gets the GDP inputs underway today, while we will

also see A$800mn worth of ACGB 1.50% 21 June 2031 supply.