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ACGB Apr-26 Prices Well

AUSSIE BONDS

A very strong round of pricing was observed in the latest round of ACGB Apr-26 supply, with the weighted average yield printing 1.21bp through prevailing mids (per Yieldbroker), although the cover ratio was relatively modest given the strong pricing, printing at 2.60x. It would seem that the current market vol. deterred some prospective bidders, limiting the cover, but those that were willing to bid were willing to pay up for access to the paper (we did note that there was some demand for the line via the RBA’s SLF in our preview, albeit not as high as what has been seen in other lines).

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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