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ACGB April 2025 Supply Due

AUSSIE BONDS

The Australian Office of Financial Management (AOFM) will today sell A$700mn of the 3.25% 21 April 2025 Bond, issue #TB139. The line was last sold on 23 April 2021 for A$800mn. The sale drew an average yield of 0.4620%, at a high yield of 0.4650% and was covered 3.6063x. There were 36 bidders, 13 of which were successful and 7 were allocated in full. Amount allotted at highest yield as percentage of amount bid at that yield was 23.8%.

  • RBA purchase-adjusted negative net supply, record liquidity in the domestic banking system and the international relative value appeal of ACGBs will continue to support demand at AOFM auctions.
  • The limited duration/notional on offer also points to a smooth takedown, despite the recent outright richening, with yields currently sitting at multi-month lows.
  • Results due at 0200BST/1100AEST.
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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