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ACGB Nov-25 Supply Goes Well

AUSSIE BONDS

{AU} AUSSIE BONDS: ACGB Nov-25 Supply Goes Well

The previously flagged combination of the recent cheapening and carry and rolldown on offer, in addition to the well-documented trifecta of broader supportive factors in place for ACGBs that we have flagged many times in recent months, supported today's ACGB Nov-25 auction. Pricing was firm enough, with the weighted average yield coming in 0.6bp through prevailing mids (per Yieldbroker). Elsewhere, the cover ratio ticked higher vs. the previous auction of the line (which was held back in August), despite the A$300mn increase in notional size on offer.

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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