Summary: Construction spending down 2.9%, contrasts with expected rise; up 1.8% from March 2023 quarter; ANZ: weakness widespread; ACGB yields increase; rate-cut expectations soften; Westpac: weakness in part reflects shifting volatility rather than signalling broad-based downturn; residential sector down 1.2%, non-residential building down 7.0%, engineering down 2.1%. Construction expenditure increased substantially in Australia in the early part of last decade following a more-steady expansion through the 2000s. A large portion...