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

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

(AOFM) will today sell A$2.0bn of the 2.75% 21 Apr 2024 Bond, issue #TB137. The

line was last sold on 15 May 2020 for A$2.0bn. The sale drew an average yield of

0.2818%, at a high yield of 0.2825% and was covered 5.3775x. There were 50

bidders, 13 of which were successful and 5 were allocated in full. Amount

allotted at highest yield as percentage of amount bid at that yield was 78.4%.

- We will keep this preview fairly short and to the point. The combination of

the rolldown into the 3-Year sector, facilitated by the RBA's YCC, and the ample

liquidity backdrop should support, at least to a degree, takedown at this

auction. That being said, the bid through the mid seen ahead of shorter dated

ACGB auctions has been waning in recent times.

- Results due at 0200BST/1100AEST.