Summary: Job ads up 0.1% in December; 14.9% lower than December 2022; ANZ: 10.0% month-on-month fall in unadjusted terms; short-term ACGB yields fall, longer-terms steady/up modestly; rate-cut expectations soften slightly; ANZ: no signs of sharp deterioration approaching; ad index-to-workforce ratio steady. From mid-2017 onwards, year-on-year growth rates in the total number of Australian job advertisements consistently exceeded 10%. That was until mid-2018 when the annual growth rate fell back markedly....