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ACGB Nov-33 Supply Passes Smoothly

AUSSIE BONDS

ACGB Nov-33 supply prices comfortably through prevailing mids, with the weighted average yield printing 0.93bp through, per Yieldbroker. Cover was comfortably above the 3.00x mark. As we suggested ahead of the auction, prevailing yield levels outweighed the micro- RV richness, uncertainty re: the RBA terminal rate and the lack of pickup vs. U.S. 10s (in outright terms). The bond itself and XM futures are little changed vs. pre-auction levels.

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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