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Aussie Bonds also edged lower on the...>

AUSSIE BONDS: Aussie Bonds also edged lower on the North Korea headlines, after
they tracked U.S. Tsys on SYCOM. Although mortgage rate hikes from ANZ & CBA,
following Westpac's move last week, supported the space later on. The domestic
3-/10-Year cash yield differential hovers just shy of 57.0bp, running a little
steeper on the day on the back of the mortgage rate moves, while the AU/U.S.
10-Year yield spread sits near enough unch. at ~34.0bp.
- The Bill strip deals unchanged to 3 ticks higher last with flattener interest
on the back of the mortgage rate adjustments.
- Corporate issuance has continued at a healthy clip, with Paccar Fin'l
launching a min. of A$100mn worth of 4-Year Notes & Suncorp Metway launching a
new A$ benchmark covered bond. Kommunalbanken also priced a A$50mn tap of its
April 2021 Kangaroo Bond. TCV priced a A$850mn addition to its Oct '28 line,
with Australian Factoring mandating banks for 3-Year Notes.
- Sovereign issuance generates the largest interest on the docket on Friday with
the AOFM set to sell A$1.0bn worth of 2.50% 21 May 2030 Bonds tomorrow.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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