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ACGB Nov-24 Supply Goes Well

AUSSIE BONDS

The latest round of ACGB Nov-24 supply passes smoothly, with relative and outright plays likely facilitating strong pricing as the weighted average yield printed 0.87bp through prevailing mids (per Yieldbroker). A reminder that heavy borrowing via the RBA's SLF also pointed to the potential for a strong auction. The cover ratio eased a bit vs. the prev. auction of the line, but that metric was particularly strong last time out and still printed comfortably above 4.50x this time around. No lasting reaction in YM futures post-supply.

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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