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NAB On Today's AOFM Announcement

AUSSIE BONDS

NAB note that "the AOFM announced after MYEFO that it will be cutting its term issuance program for the year by A$10bn, to A$230bn. Further details will be released in an announcement today. With the reduced A$230bn program already 67% complete we expect to see the prior weekly tender volume of A$3-4bn reduced and also lower T-note volumes. Other bonds may be announced in addition to the previously announced May-32, and the AOFM has previously said there will be an update on whether a third maturity will be added in some years."

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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