The focal point of today's Asia-Pacific.......>

BONDS: The focal point of today's Asia-Pacific session has been provided by the

release of Australian Q4 GDP, which missed expectations, both on a Y/Y and Q/Q

basis. T-Notes have stuck to a relatively tight range and last trade +0.02 at

121.29+, while cash yields are 0.2-0.6bps lower across the curve, with U.S.

10-Year cash Tsy yield last seen at 2.713%. Eurodollar contracts are trading

unch.-1.0 tick higher through the reds.

- JGB futures moved away from session lows noted in early Tokyo trade and

finished the morning session at 152.58, 7 ticks above settlement. Yields trade

0.2-0.7bps lower across the curve, as the Nikkei 225 has ebbed lower. Worth

mentioning the BoJ increased the size of its 5-10 Rinban ops to Y480bn from the

prev. Y430bn, after it trimmed the frequency of purchases covering the bucket in

its March Rinban plan.

- Aussie bond yields are 3.3-4.2bps lower across the curve, coming under

pressure from the aforementioned GDP release. YM trades +3.5 ticks at writing,

with XM 4.0 ticks higher, while YM/XM is unch. at 48.00. Bills trade -2.0 to

+4.0 ticks through the reds, with the front end underperforming.