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{AU} AUSSIE BONDS AUCTION PREVIEW:.....>

AUSSIE BONDS
AUSSIE BONDS: {AU} AUSSIE BONDS AUCTION PREVIEW: The Australian Office of
Financial Management (AOFM) will today sell A$300mn of the 3.0% 21 Mar 2047
Bond, issue #TB150. The line was last sold on 5 Nov 2018 for A$500mn. The sale
drew an average yield of 3.2330%, at a high yield of 3.2375% and was covered
2.6180x. There were 54 bidders, 24 of which were successful and 19 were
allocated in full. Amount allotted at highest yield as percentage of amount bid
at that yield was 32.6%.
- The amount on issue has a DV01 of A$777K.
- The line hasn't been tendered in over a year, with the small size potentially
pointing to dealer requests with the AOFM, which could support demand.
- The 10-/30-Year spread has flattened in recent weeks.
- The line's ASW spread has backed away from recent highs, and now sits back in
the middle of its recent range.
- Results due at 0000GMT/1100AEDT.
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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