The fixed income space has shrugged off the.....>

RBA: The fixed income space has shrugged off the minutes from the RBA's February

meeting, which offered little fresh insight into the thought process of the

central bank, as it reiterated that inflation will rise in a gradual manner as

the economy strengthens. 

- As a result 10-Year futures last trade 2 ticks lower at 97.100, with 3-Year

futures also 2 ticks lower at 97.825. In terms of yields the 10-Year is 1.5bp

higher at 2.902%, while the 3-Year is yielding 2.136%, up 1.7bp on the day.

- The heavily watched AU/US 10-Year spread continues to hold just above 0, last

sitting around 0.5bp as we await a glut of Fedspeak & the release of the FOMC

minutes this week.

- The short end was also unresponsive to the release, with the white contracts

trading 1-2 ticks lower on the day.

- In the currency space the AUD is operating near its best levels for the

session thus far, but ranges vs. USD, JPY & NZD remain contained.