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Solid Auction

AUSSIE BONDS

The A$800mn ACGB Nov '31 auction was well received, with the cover ratio jumping (even when we adjust for the downtick in notional amount on offer vs. the prev. auction of the line), while the weighted average yield printed 0.51bp through prevailing mids at the time of supply (per Yieldbroker). The structurally supportive matters we flagged ahead of the auction outweighed any valuation issues.

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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