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Not the best auction for ACGB 3.25%....>

AUSSIE BONDS
AUSSIE BONDS: Not the best auction for ACGB 3.25% 21 Apr 2029 there, although
the pre-auction richening on the back of the trade war developments won't have
helped. Average yield looks to have been 0.31bp above mid at the time of issue,
with the cover ratio sliding (although size on offer was larger than at the
prev. auction). We did suggest that it may not be the strongest round of supply
in our auction preview, players seemingly favour duration within the basket at
present.
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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