The space picked up a fresh bid in.....>

AUSSIE BONDS: The space picked up a fresh bid in lieu of the minutes from the

RBA's Dec meeting where the Board noted that "members agreed that it would be

important to reassess the econ outlook in Feb '20." The Board also affirmed that

it remains "prepared to ease monetary policy further if needed." Even as it

believes that the economy appears to have reached a gentle turning point. YM

closed +2.5, XM unch., with bull steepening the theme post-minutes. Bills

finished 2-3 ticks higher through the reds. The IB strip now prices a 61.5%

chance of an RBA cut in Feb vs. 42.9% yesterday.

- Elsewhere, the AOFM issued updated details of planned issuance and buybacks of

Australian Government Securities over the remainder of the current financial

year (that is, the period to 30 June 2020) in lieu of yesterday's MYEFO. The

AOFM pointed towards slightly lower borrowing needs vs. post-budget assumptions

(outlined in earlier bullet).

- In corporate issuance, ANZ priced a $A240mn tier two 20-Year deal at 3.40%.

- Skilled vacancy data is due tomorrow, ahead of Thursday's labour market

report.