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ACGB Nov-24 Supply Well Received

AUSSIE BONDS

The latest round of ACGB Nov-24 supply prices very firmly, with the weighted average yield printing 1.37bp through prevailing mids (per Yieldbroker). The hedgability of the line likely supported takedown, as did the recent cheapening, with continued demand for access to the line via the RBA’s SLF acting as a pre-auction indicator of strong demand, yet again. Cover was firm by recent standards, printing just shy of the 4.00x mark. Nothing in the way of a sizable reaction in the market. YMM2 is incrementally firmer, while ACGB Nov-24 richens by ~1bp post-auction.

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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