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AUCTION PREVIEW: Nov-27 Index Linked Supply Due

AUSSIE BONDS

The Australian Office of Financial Management (AOFM) will today sell A$150mn of the 0.75% 21 November 2027 I/L Bond, issue #CAIN414. The line was last sold on 12 October 2021 for A$150mn. The sale drew an average yield of -0.9085%, at a high yield of -0.9000% and was covered 3.8267x. There were 38 bidders, 12 of which were successful and 9 were allocated in full. Amount allotted at highest yield as percentage of amount bid at that yield was 19.0%.

  • Elevated crude prices and the general worry surrounding a more persistent outlook vs. what some envisaged just a few short months ago will mean that the auction passes smoothly enough, with the move in breakevens and crude oil set to facilitate demand.
  • 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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