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No Real Impact From Auction Dynamics

AUSSIE BONDS

Not the firmest round of ACGB Nov '31 supply in pricing terms, with the weighted average yield 'only' printing ~0.19bp through prevailing mids at the time of supply. Still, the cover ratio was actually higher than the previous auction in size-adjusted terms (when you account for the doubling of the nominal amount of paper on offer this time out). Nothing in the way of tangible reaction in XM, last trading -1.0 on the day. Local data is due at the bottom of the hour, but that shouldn't have much, if any, impact on the space.

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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