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Free AccessAUCTION PREVIEW: The Australian........>
AUSSIE BONDS: AUCTION PREVIEW: The Australian Office of Financial Management
(AOFM) will today sell A$3.0bn of the 1.50% 21 June 2031 Bond, issue #TB157.
- This is the first time that the bond has been offered.
- As a reminder, the coupon level undershot what most desks were expecting,
which lengthens the modified duration of the line, pushing that particularly
metric closer to the April 2033 line (although he April 2033's high coupon
shortens its duration).
- Desk estimates that we have seen have EFP spread expectations of +8.5bp-11.8bp
to the current June 10-Year futures contract.
- CBA note that this bond will form part of the XM futures basket for the H0
contract.
- Results due at 0200BST/1100AEST.
To read the full story
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Please enter your details below.
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.