With Japanese markets closed for a.....>

BOND SUMMARY: With Japanese markets closed for a national holiday and news feeds

relatively quiet, focus in today's Asia-Pacific session fell on regional

economic data. The latest Australian labour market report revealed that domestic

unemployment fell to a multi-year low of 4.9% from the prev. 5.0% in February,

amidst the RBA's particular concern with domestic labour mkt developments.

- Aussie bond yields opened lower, seemingly playing catch up to the post-FOMC

move in U.S. Tsys, but then jumped on the back of the aforementioned labour mkt

report, before paring gains. Aussie bond yields are trading 0.3 to 4.6bp lower

across the curve at writing. Worth mentioning the strong data print briefly

pushed the 3-Year bond yield back above the RBA cash rate of 1.50%, before it

eased off. YM last trades +0.5 tick at 98.565, XM +4.0 ticks at 98.100, with

YM/XM 4.0 ticks lower at 46.00. Bills are trading 1-3 ticks lower through the

reds.

- T-Notes have stuck to a very tight range and last trade +0.01 at 123.14, with

cash markets closed due to the Japanese holiday. Eurodollar contracts are

trading 0.5 to 1.0 tick higher through the reds.