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ACGB May-32 Supply Goes Smoothly

AUSSIE BONDS

The latest round of ACGB May-32 supply went well, with the weighted average yield printing 0.78bp through prevailing mids (per Yieldbroker), and the cover ratio coming in at 3.0025x, above the prior six-auction average of 2.7426x (albeit with a slightly lower amount of ACGBs on offer in this auction). The result builds on a recent run of strong ACGB auction results, with the earlier-flagged, easily-digestible DV01 and benchmark 10-Year status of the line facilitating smooth takedown.

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