- PolicyPolicy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: - G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts - Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- CommoditiesCommodities
Real-time insight of oil & gas markets
- Data
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI China Press Digest Sep 6: Yuan, Economy, Futures Market
MNI BRIEF: Aussie GDP Grows 0.4% Q/Q, Beats Expectations
AUCTION PREVIEW: An Atypical Offering
The Australian Office of Financial Management (AOFM) will today sell A$500mn of the 3.25% 21 June 2039 Bond, issue #TB147. The line was last sold on 12 August 2019 for A$400mn. The sale drew an average yield of 1.4105%, at a high yield of 1.4125% and was covered 2.4225x. There were 43 bidders, 20 of which were successful and 10 were allocated in full. Amount allotted at highest yield as percentage of amount bid at that yield was 38.5%.
- A particularly long bond, which makes the tap atypical. Indeed, the line itself hasn't been tapped since August last year. The ACGB June '51 syndication was of course well received, but the nature of the two issuance methods is somewhat different, which is reflected in the A$500mn size of the issuance on offer today. The atypical nature and limited size on offer may also point to demand expressed via AOFM liaison with dealers.
- Anyhow, the ample liquidity in the system, potential for further easing from the RBA and broad foreign demand for ACGB is expected to support demand at auction.
- ASWs have moved back from extremes in recent months.
- Results due at 0200BST/1100AEST.
To read the full story
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Why Subscribe to
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.