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AUCTION PREVIEW: '30 I/L Supply Due

AUSSIE BONDS

The Australian Office of Financial Management (AOFM) will today sell A$100mn of the 2.50% 20 September 2030 I/L Bond, issue #CAIN408. The line was last sold on 11 August 2020 for A$150mn. The sale drew an average yield of -0.4546%, at a high yield of -0.4475% and was covered 4.0000x. There were 42 bidders, 5 of which were successful and 3 were allocated in full. Amount allotted at highest yield as percentage of amount bid at that yield was 38.5%.

  • The broader impetus for global breakevens has seen a notable shift away from the March lows, but the prospect of meaningful inflation in Australia remains limited, with the RBA's policy settings set to remain ultra-loose for the foreseeable future.
  • Results due at 0200BST/1100AEST.
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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