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AUSSIE BONDS: ACGB Jun-35 Auction Shows More Demand

AUSSIE BONDS
BulletAPACFixed Income BulletsAustraliaMarkets

Today’s auction showed strong pricing for ACGBs, with the weighted average yield coming in 0.63bps below prevailing mid-yields, according to Yieldbroker. Additionally, the cover ratio rose to 4.1437x from an already robust 4.000x at the previous auction. 

  • As noted in our preview, the current yield was approximately 10bps higher than at the prior auction, likely contributing to the robust demand. Improved sentiment toward longer-dated global bonds over recent weeks, along with a steeper 3s/10s yield curve, also likely supported the auction’s success.
  • Post-auction, both the cash line and XM are slightly cheaper.
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Today’s auction showed strong pricing for ACGBs, with the weighted average yield coming in 0.63bps below prevailing mid-yields, according to Yieldbroker. Additionally, the cover ratio rose to 4.1437x from an already robust 4.000x at the previous auction. 

  • As noted in our preview, the current yield was approximately 10bps higher than at the prior auction, likely contributing to the robust demand. Improved sentiment toward longer-dated global bonds over recent weeks, along with a steeper 3s/10s yield curve, also likely supported the auction’s success.
  • Post-auction, both the cash line and XM are slightly cheaper.