Free Trial

AUCTION PREVIEW: ACGB Nov '25 Supply Expected To Pass Smoothly

AUSSIE BONDS

The Australian Office of Financial Management (AOFM) will today sell A$1.5bn of the 0.25% 21 November 2025 Bond, issue #TB161. The line was last sold on 2 September 2020 for A$2.0bn. The sale drew an average yield of 0.4812%, at a high yield of 0.4825% and was covered 5.1500x. There were 35 bidders, 12 of which were successful and 4 were allocated in full. Amount allotted at highest yield as percentage of amount bid at that yield was 71.9%.

  • The size and duration of this offering shouldn't provide any headwinds, with the rolldown aspect and prospects of further RBA easing, which includes some participants looking for a broadening of the RBA's bond buying scheme, set to support demand at auction, although these matters have already seen ACGBs move off of cheaps vs. swaps.
  • The 2-/5-/10-Year butterfly sits around the middle of the range witnessed since the March vol.
  • Results due at 0100BST/1100AEDT.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.