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Smooth Passage Of Nov-28 Auction, Not As Strong As It Could Have Been

AUSSIE BONDS

The latest round of ACGB Nov-28 supply passed smoothly, aided by the recent cheapening and heightened geopolitical tensions, although the issues that we flagged pre-auction (including timing of the issuance and positioning of the line on the curve) likely weighed on the cover ratio (which moderated to print just over 3.00x), while the weighted average yield printed 0.52bp through prevailing mids.

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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