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ACGB Nov '31 Supply Easily Absorbed

AUSSIE BONDS

Today's A$1.0bn ACGB Nov '31 auction was easily absorbed, with the weighted average yield pricing 0.59bp through prevailing mids at the time of supply, while the cover ratio saw a modest uptick vs. the prev. auction of the line, printing comfortably above the 5.00x mark. The well-defined supportive factors coupled with a cheaper entry point on the back of the recent weakness in ACGBs outweighed any worries re: the future trajectory of yields.

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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