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The space followed U.S. Tsys higher....>

AUSSIE BONDS: The space followed U.S. Tsys higher overnight on the back of
chatter suggesting that U.S. Pres. Trump was unhappy with Fed MonPol under
Powell i.e. less easy money, which was later confirmed. Trump noted that he
disagrees with Fed re: rate hikes & that he is "not thrilled" with Powell. Trump
also noted that he will criticise the Fed if it continues to raise rates. Trump
also stated that he doesn't "anticipate much" from China trade talks in
Washington later this week, and believes that there is "no time frame" for
ending the China trade dispute.
- On the AU political front Peter Dutton has resigned from his role in the
Australian cabinet after losing the leadership spill within the Liberal Party.
Eyes now the lookout for any other resignations from within the cabinet.
- Aussie Bonds have edged away from SYCOM closing levels & have lagged Tsys on
the latest move with the AU/U.S. 10-Year spread hovering around -30bp, while the
domestic 3-/10-Year curve continues to flatten. Bills last trade 1-2 ticks
lower, with 3-Month BBSW fixing 0.3bp higher today.
- Focus on the RBA mins after Gov. Lowe offered nothing new early this morning.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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