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

AUSSIE BONDS: AUCTION PREVIEW: The Australian Office of Financial Management

(AOFM) will today sell A$1.5bn of the 5.50% 21 Apr 2023 Bond, issue #TB133. The

line was last sold on 8 April 2020 for A$2.0bn. The sale drew an average yield

of 0.2489%, at a high yield of 0.2500% and was covered 4.8950x. There were 63

bidders, 12 of which were successful and 5 were allocated in full. Amount

allotted at highest yield as percentage of amount bid at that yield was 46.0%.

- Another ACGB auction preview to keep short and sweet, given the RBA's 3-Year

yield target of 0.25% and the fact that line currently yields ~0.27%, there

should be decent demand at today's auction, especially given the RBA's pledge to

maintain market liquidity/functioning (even as it pares back its ACGB purchases,

for now).

- Results due at 0200BST/1100AEST.