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Firm Pricing At Latest Round Of ACGB Nov-33 Supply

AUSSIE BONDS

The latest round of ACGB Nov-33 supply sees firm pricing, with the weighted average yield printing 1.56bp through prevailing mids (per Yieldbroker), although the uptick in the cover ratio is skewed by the 30% reduction in the size on offer at this auction vs. the prior. As mentioned in our auction preview, the prospect of an impending pause in the hiking cycle from the RBA and the well-documented worry re: the global banking system were the likely catalysts for demand, outweighing the headwinds from the recent richening, mixed micro-RV metrics and general flatness of the curve.

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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