YM & XM sit -1.0 after respecting......>

AUSSIE BONDS: YM & XM sit -1.0 after respecting SFE ranges on SYCOM, as the U.S.

observed the President's Day holiday. The latest profit warning from Apple and

anti-Huawei source reports have had little effect on the space. Elsewhere, China

formally noting that the annual 2 sessions policymaker gathering may be delayed

had little impact, as it had been widely touted beforehand.

- A busy start for A$ issuance. We have seen the AOFM announce "an issue by

syndication of the 2.75% 21 May 2041 Treasury Bond. The issue will be of a

modest size. Initial price guidance for the issue is a spread of 49 to 51 basis

points over the implied bid yield for the primary ten-year Treasury Bond futures

contract. The issue is expected to be priced on Wednesday, 19 February 2020 and

settle on Wednesday, 26 February 2020." Aurizon mandated for a potential round

of 10-Year or longer issuance, Emirates NBD launched a 10-Year offering, ICBC

launched a 3-Year floater & Members Banking Group launched a new 3-Year note. On

the semi front, QTC have mandated for a new Nov '24 floating rate note.

- RBA meeting minutes headline the local docket today, although most see little

scope for any shock given the recent raft of rhetoric from RBA Governor Lowe.