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AUSSIE BONDS: ACGB Jun-35 Auction Shows Solid Demand Metrics

AUSSIE BONDS
RegionGlobalBulletAPACFixed Income BulletsAustraliaMarkets

Today’s auction demonstrated solid pricing for ACGBs, with the weighted average yield coming in 0.41bps below the prevailing mid-yields, according to Yieldbroker. 

  • Additionally, the cover ratio increased to 3.7563x from 3.3813x at the August auction.
  • As highlighted in our preview, improved sentiment towards longer-dated global bonds, a steeper 3/10 curve and the inclusion in the XM basket likely supported the bid.
  • Post-auction, both the cash line and XM are little changed.
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Today’s auction demonstrated solid pricing for ACGBs, with the weighted average yield coming in 0.41bps below the prevailing mid-yields, according to Yieldbroker. 

  • Additionally, the cover ratio increased to 3.7563x from 3.3813x at the August auction.
  • As highlighted in our preview, improved sentiment towards longer-dated global bonds, a steeper 3/10 curve and the inclusion in the XM basket likely supported the bid.
  • Post-auction, both the cash line and XM are little changed.