Free Trial

Outright Bond futures have ticked......>

AUSSIE BONDS: Outright Bond futures have ticked away from the SYCOM/early SFE
lows, with T-Notes also edging away from worst levels. Soft AU Westpac consumer
confidence data will also underpin the space. The domestic 3-/10-Year yield
differential hovers around ~58.0bp, while the AU/U.S. 10-Year yield spread has
moved to -38.5bp, with the longer running theme of outperformance in AU paper
vs. Tsys holding true.
- Focus remains on corporate issuance, with press reports that AT&T's touted
Kangaroo Bond could be sized up to A$2bn, elsewhere GPT Re. launched A$100bn
worth of 6-Year paper and SocGen mandated banks for 5-Year A$ paper. On the
semi/muni front the SAFA taps book-build split is roughly A$700m for the Sep '22
line and A$770mn for the July '26 line, with guidance for Sep '22 set at 41bps
EFP (37.75bp vs. ACGB Jul '22), and at 37bps EFP (49.75bp vs. the ACGB Apr '26)
for July '26.
- The Bill strip last trades unchanged to a tick higher after 3-Month BBSW fixed
~0.3bp higher today.
- Focus turns to the AOFM selling A$1.0bn of the 2.25% 21 May '28 Bond #TB149.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.