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ACGB Jun-54 Auction Goes Smoothly

AUSSIE BONDS
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Today's result has continued the trend of firm pricing for ACGB auctions, as the weighted average yield printed 0.61bps through prevailing mids (per Yieldbroker). The cover ratio was 2.8233x.

  • An outright yield which was around 40bps higher than the December low appears to have contributed to today’s bidding even though it was around 35bps lower than mid-October’s syndication level.
  • It is also important to acknowledge that improved sentiment towards longer-dated global bonds over the past month might have assisted the bid.
  • The ACGB Jun-54 cash trade is little changed in post-auction dealings.
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Today's result has continued the trend of firm pricing for ACGB auctions, as the weighted average yield printed 0.61bps through prevailing mids (per Yieldbroker). The cover ratio was 2.8233x.

  • An outright yield which was around 40bps higher than the December low appears to have contributed to today’s bidding even though it was around 35bps lower than mid-October’s syndication level.
  • It is also important to acknowledge that improved sentiment towards longer-dated global bonds over the past month might have assisted the bid.
  • The ACGB Jun-54 cash trade is little changed in post-auction dealings.