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

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.