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AUCTION PREVIEW: Sep-30 Index Linked Supply Due

AUSSIE BONDS

The Australian Office of Financial Management (AOFM) will today sell A$150mn of the 2.50% 20 September 2030 index linked bond, issue #CAIN408. The line was last sold on 22 November 2022 for A$150mn. The sale drew an average yield of 1.1742%, at a high yield of 1.1875% and was covered 2.4533x. There were 35 bidders, 18 of which were successful and 16 were allocated in full. Amount allotted at the highest yield as a percentage of amount bid at that yield was 50.0%.

  • This is the first index linked auction of the calendar year from the AOFM.
  • That fact, coupled with the recent upside surprise in Q4 CPI data should provide smooth enough underwriting when it comes to today’s supply.
  • The inversion of the breakeven curve underscores the near-term inflationary worry.
  • Results due at 0000GMT/1100AEDT.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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