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ACGB Apr-29 Supply Passes Smoothly

AUSSIE BONDS

The latest round of ACGB Apr-29 supply goes well, with the move lower in the cover ratio skewed by the A$100mn extra on offer compared to the prior auction (with ~A$195mn in additional notional bids received this time out). Pricing was very firm, with the weighted average yield printing 1.89bp through prevailing mids (per Yieldbroker). The recent cheapening was seemingly enough to trigger demand at auction, even with the bond sitting in the “unloved” part of the ACGB curve.

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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