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ACGB Nov-31 Auction Digested

AUSSIE BONDS

The latest round of ACGB Nov-31 supply saw the weighted average yield print 0.33bp through the prevailing yield at the time of supply (per Yieldbroker), with the cover ratio slipping. While this ultimately presents a smooth takedown in a longer term historical sense, it isn't one of the stronger ACGB auctions seen in recent times, pointing to some lingering jitters, even after yesterday's dovish RBA decision. Still, XM has rallied around the 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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