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Smooth Enough Digestion Of ACGB Mar-47 Supply

AUSSIE BONDS

The weighted average yield at the latest round of ACGB Mar-47 supply printed 0.67bp through prevailing mids (per Yieldbroker), while the cover ratio printed at a healthy ~3.00x, pointing to a relatively smooth digestion of the A$300mn (A$417K DV01) auction. Still, the high yield printed bang on prevailing mids, which detracts a little from the strength when assessing the wider optics. This was perhaps a result of the early Monday offering window and uptick in ACGB auctions this week (in frequency terms), with the flatness of the curve probably factoring in as well.

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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