October 11, 2024 00:20 GMT
AUSSIE BONDS: Smoothly Absorbed With Solid Demand Metrics
AUSSIE BONDS
The latest round of ACGB Nov-28 supply sees the weighted average yield print 1.69bps through prevailing mids (per Yieldbroker), extending the recent trend of firm pricing at ACGB auctions.
- However, the cover ratio fell to 3.09x from 4.4389x previously.
- A higher outright yield and a steeper 3/5 yield curve appeared to work to support the bid.
- There has been no notable movement in YM or XM post-supply, with the Nov-28 bond little changed versus pre-auction levels in cash trade.
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