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AUCTION PREVIEW: I/L Supply Due

AUSSIE BONDS

The Australian Office of Financial Management (AOFM) will today sell A$150mn of the 0.75% 21 Nov 2027 I/L Bond, issue #CAIN414. The line was last sold on 25 August 2020 for A$100mn. The sale drew an average yield of -0.4371%, at a high yield of -0.4325% and was covered 4.3000x. There were 33 bidders, 6 of which were successful and 5 were allocated in full. Amount allotted at highest yield as percentage of amount bid at that yield was 40.0%.

  • Australian breakevens sit a little shy of their recent highs, but have rallied hard since their March lows, although questions surrounding the ability of RBA policy to foster meaningful inflation/wage growth remain evident.
  • 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

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