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AUCTION PREVIEW: ACGB Apr-33 Supply Due

AUSSIE BONDS

The Australian Office of Financial Management (AOFM) will today sell A$700mn of the 4.50% 21 April 2033 bond, issue #TB140. The line was last sold on 30 November 2022 for A$700mn. The sale drew an average yield of 3.6213%, at a high yield of 3.6225% and was covered 3.3571x. There were 35 bidders, 10 of which were successful and 10 were allocated in full. Amount allotted at the highest yield as a percentage of amount bid at that yield was 100.0%.

  • Benchmark 10-Year status for the line and relatively attractive forward yields in a micro-RV sense should help underwrite demand today, as should the recent cheapening in the space.
  • That should mean that the auction passes smoothly, at a minimum.
  • 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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