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AUCTION PREVIEW: The Australian........>

AUSSIE BONDS
AUSSIE BONDS: AUCTION PREVIEW: The Australian Office of Financial Management
(AOFM) will today sell A$100mn of the 0.75% 21 Nov 2027 I/L Bond, issue
#CAIN414. The line was last sold on 10 December 2019 for A$150mn. The sale drew
an average yield of -0.3128%, at a high yield of -0.3100% and was covered
3.1333x. There were 35 bidders, 10 of which were successful and 6 were allocated
in full. Amount allotted at highest yield as percentage of amount bid at that
yield was 73.3%.
- BEIs have been on a downward trajectory in recent weeks, with growth
expectations pressured on the back of the spread of Coronavirus.
- Westpac note that: "Inflation expectations remain benign... We would not
expect BEIs to move back above 2% in 2020."
- 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