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AUSSIE BONDS: Dec-30 Supply Goes Well With Strong Demand

AUSSIE BONDS
BulletAPACFixed Income BulletsAustraliaMarkets

The latest ACGB Dec-30 supply beat expectations, with a weighted average yield of 1.19bps through prevailing mids, according to Yieldbroker.

  • The cover ratio was a solid 4.6357x, reflecting strong demand.
  • As noted in the MNI Auction Preview, the line was last sold on February 14, 2024, making direct comparisons less relevant. However, today’s cover ratio compares favourably to last week’s Nov-32 auction, which saw a cover of 3.4786x.
  • Despite being excluded from both the YM and XM baskets—placing it in a less favoured segment of the yield curve—this did not seem to impact demand.
  • Post-auction, YM/XM futures and the Dec-30 line remain little changed.
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The latest ACGB Dec-30 supply beat expectations, with a weighted average yield of 1.19bps through prevailing mids, according to Yieldbroker.

  • The cover ratio was a solid 4.6357x, reflecting strong demand.
  • As noted in the MNI Auction Preview, the line was last sold on February 14, 2024, making direct comparisons less relevant. However, today’s cover ratio compares favourably to last week’s Nov-32 auction, which saw a cover of 3.4786x.
  • Despite being excluded from both the YM and XM baskets—placing it in a less favoured segment of the yield curve—this did not seem to impact demand.
  • Post-auction, YM/XM futures and the Dec-30 line remain little changed.