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Comments from one market participant...>

AUSSIE BONDS
AUSSIE BONDS: Comments from one market participant re: the "failed" bill tender
picked up via social media:
- Cool heads on this. Wasn't managed spectacularly well but isn't a reflection
of lack of demand. The 6m bill was covered over 5 times. This is around cash
flow management from end users. The deal itself was not out of line with market
rates and won't cause a spike in yields.
- Cash reserves are in the billions and so it causes no issues. Pro forma
response warranted. This has happened before too, almost 20 years ago.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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