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Morgan Stanley Month End ACGB Extension Estimates

AUSSIE BONDS

"We expect the 1y+ ACGB index to extend by 0.005y in September, lower than an average
September extension of 0.016y and an average month's extension of 0.074y. A total of A
$2.3 billion of issuance will affect the extension, and there are no bonds falling out of the
1y+ index. The ACGB All Stocks Index will extend by a similar proportion."

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