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Cover Slides At ACGB Jun-51 Auction, Pricing Remains Firm

AUSSIE BONDS

The combination of a relatively flat curve, the move away from recent cheaps in outright yield terms, Monday auction timing and increased ACGB issuance slate seemingly detracted from demand at today's ACGB Jun-51 auction, with the cover ratio slipping below 2.00x. Pricing fared a little better, with the weighted average yield registering 0.56bp through prevailing mids at the time of supply (per BBG).

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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