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AUSSIE BONDS: ACGB Jun-31 Auction Goes Smoothly

AUSSIE BONDS
BulletAPACFixed Income BulletsAustraliaMarkets

Today’s auction demonstrated solid pricing for ACGBs, with the weighted average yield coming in 0.94bps below the prevailing mid-yields, according to Yieldbroker. However, the cover ratio was lower at 3.8000x versus 2.9929x at the previous outing.

  • Today’s bid was confronted with a similar outright yield but a steeper curve. The line also sits in a less preferred area of the curve.
  • Post-auction, the ACGB May 2034 cash trade and XM have shown little change.
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Today’s auction demonstrated solid pricing for ACGBs, with the weighted average yield coming in 0.94bps below the prevailing mid-yields, according to Yieldbroker. However, the cover ratio was lower at 3.8000x versus 2.9929x at the previous outing.

  • Today’s bid was confronted with a similar outright yield but a steeper curve. The line also sits in a less preferred area of the curve.
  • Post-auction, the ACGB May 2034 cash trade and XM have shown little change.