We highlighted the following pre-RBA...>

AUSSIE BONDS: We highlighted the following pre-RBA in our preview: Hawkish

Risks: The RBA decides that global developments give more credence to the

"gentle turning point" view. The RBA noted: The outlook for the global economy

remains reasonable. While the risks are still tilted to the downside, some of

these risks have lessened recently. Resulting on some pressure on Aussie FI post

statement & AUD edging higher, even as the Bank concluded that: Given these

effects of lower interest rates and the long and variable lags in the

transmission of monetary policy, the Board decided to hold the cash rate steady

at this meeting while it continues to monitor developments, including in the

labour market. The Board also agreed that due to both global and domestic

factors, it was reasonable to expect that an extended period of low interest

rates will be required in Australia to reach full employment and achieve the

inflation target. The Board is prepared to ease monetary policy further if

needed to support sustainable growth in the economy, full employment and the

achievement of the inflation target over time.

- YM -5.0 & XM -5.5, Bills 3-4 ticks lower through reds vs. settlement.