YM unchanged, XM +0.5 at typing,.......>

AUSSIE BONDS: YM unchanged, XM +0.5 at typing, after the space reversed the

early steepening seen in SYCOM hours, with Sydney trade fairly limited thus far.

- Final CBA services/composite PMI data and the AiG PCI print came in on the

softer side, although the weekly consumer confidence reading from ANZ-Roy Morgan

has edged towards slightly more normal levels (supported by anecdotal evidence

of an uptick in consumer spending, via card data from a couple of the big 4

banks).

- Also worth flagging that Qantas has noted that it has secured a further

A$550mn worth of debt financing.

- The overnight interbank cash rate fixed unchanged at 0.14%, while there was

little movement in the ES account surplus.

- Bill sit -1 to +1 through the reds.

- Later today, focus will fall on the RBA monetary policy decision (see our full

preview for further details) and the ABS will release its weekly payroll jobs

and wages data.