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ACGB Jun-35 Auction Solid Demand Metrics

AUSSIE BONDS
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

Today’s auction demonstrated solid pricing for ACGBs, with the weighted average yield coming in 0.27bps below the prevailing mid-yields, according to Yieldbroker. Additionally, the cover ratio increased to 3.3813x from the modest 2.2125x seen at the June auction.

  • As highlighted in our preview, improved sentiment towards longer-dated global bonds, a steeper 3/10 curve and the inclusion in the XM basket likely supported the bid.
  • Post-auction, both the cash line and XM are slightly richer.
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Today’s auction demonstrated solid pricing for ACGBs, with the weighted average yield coming in 0.27bps below the prevailing mid-yields, according to Yieldbroker. Additionally, the cover ratio increased to 3.3813x from the modest 2.2125x seen at the June auction.

  • As highlighted in our preview, improved sentiment towards longer-dated global bonds, a steeper 3/10 curve and the inclusion in the XM basket likely supported the bid.
  • Post-auction, both the cash line and XM are slightly richer.