There was little in the way of.........>

AUSSIE BONDS: There was little in the way of follow through in the space from

the weekend news flow re: global trade matters, as YM & XM opened around their

respective all-time highs ahead of tomorrow's RBA MonPol decision, with markets

pricing a 25bp cut with ~100% certainty.

- The space came under some light pressure after the NYT reported that the White

House decided against imposing tariffs on Australia, while better than exp.

Caixin m'fing PMI from China also added some modest weight.

- The latest round of Q1 GDP partials were mixed.

- YM last trades 2.5 ticks lower, with XM 5.5 ticks lower. YM/XM trades at 40.5

ticks, with the cash equivalent at 38.9bp.

- Bills trade 1-3 ticks lower through the reds. RBA repo ops saw A$880mn of

15-day ops dealt at an average of 1.374%, A$1.19bn worth of 49-day ops dealt at

an average of 1.370% and $1.376bn dealt at an average of 1.332%.