YM last deals 2.5 ticks higher, with...>

AUSSIE BONDS: YM last deals 2.5 ticks higher, with XM 0.5 tick higher. YM deals

at 41.0 ticks, with the cash equivalent at 39.7bp.

- Muted reaction was noted to Australian GDP data, a soft Chinese Caixin

Services PMI print & today's ACGB supply, with the labour market dominating the

RBA's, and therefore the market's outlook, even as the GDP release revealed the

slowest Y/Y Australian growth rate since the GFC.

- Bills sit 1 tick lower to 3 ticks higher through the reds. RBA reverse repo

operations saw A$970mn worth of 13-day operations allotted at an average yield

of 1.360%, while $605mn worth of 22-day operations were dealt at an average of

1.374%.

- Australian trade data provides the highlight of tomorrow's domestic docket.