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Another ACGB Syndication Slated, Resulting In Steepening

AUSSIE BONDS

Supply matters headlined with a well-received auction of ACGB Nov '24 witnessed, before the longer end was pressured as the AOFM revealed a syndication of the new ACGB Nov '31 line, slated for next week. YM -1.0, XM -4.0 at typing.

  • In terms of auction specifics the ACGB Nov '24 auction went well, as mentioned, with the average yield printing 0.52bp through prevailing mids at the time of supply and cover ratio holding firm. The rolldown we mentioned ahead of auction proved attractive.
  • Preliminary retail sales were solid, with turnover rising in all states and territories except Victoria in July, as the state was hampered by COVID-19 lockdowns.
  • On that front, Victoria's COVID-19 daily new case count dropped below 200 for the first time since mid-July.
  • Bills run unchanged to -1 through the reds.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets

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