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ACGB Nov-31 Supply Smoothly Digested

AUSSIE BONDS

Cover softens a little at the latest round of ACGB Nov-31 supply, but still prints comfortably above 3.00x. Meanwhile, the weighted average yield printed 0.41bp through prevailing mids at the time of supply (per Yieldbroker). The laack of relative value and the upcoming alterations in cash flow dynamics in the ACGB space likely limited the cover ratio, although pricing and the fact that the cover ratio remained comfortably above the 3.00x mark points to smooth digestion of 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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