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ACGB Nov-32 Supply Passes Smoothly, End Of QE Dampens Pricing

AUSSIE BONDS

The weighted average yield witnessed at the latest round of ACGB Nov-32 supply printed a mere 0.05bp through prevailing mids at the time of supply (per Yieldbroker), while the cover ratio slipped vs. what was seen at the prev. auction of the line but remained comfortably above the 3.00x mark. Although auction digestion was smooth, demand was by no means strong, with the RBA set to conduct its final round of outright ACGB purchases tomorrow (a decision on the reinvestment of maturing bonds will come at the Bank’s May meeting).

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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