YM +0.5 on the day with XM back to.....>

AUSSIE BONDS: YM +0.5 on the day with XM back to unchanged levels after a drift

lower during SYCOM trade (in sympathy with Tsys on the back of the

aforementioned refunding announcement from the U.S). The move was reversed

during overnight trade, with the curve back from extremes as a result.

- Bills last unchanged to -1 through the reds.

- On the issuance front, Bank of Queensland has launched 5-Year A$ covered

paper.

- Australian trade data and bill issuance headline the local slate today,

although the activity of Japanese market participants after the elongated local

holiday and the release of monthly Chinese trade data will likely garner broader

attention within the Asia-Pac time zone.