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AOFM Finds Tepid Demand At Auction

AUSSIE BONDS

Not the strongest round of demand for the latest round of ACGB supply, but average yields still managed to stop through prevailing mids by ~0.2bp. Cover ratio softens notably vs. the previous auction of the line, with reduced Japanese demand, futures rolls and the recent bond vol. likely suppressing demand (as flagged before auction).

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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