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Solid Auction Lends Support

AUSSIE BONDS

A firm ACGB '25 auction, which saw the average yield price comfortably through mids, coupled with a cover ratio > 6.00x (albeit against a slightly smaller than usual auction size, at least in recent times) and modest uptick in U.S. Tsys has provided a bid for the space, allowing futures to flatten with YM printing unchanged on the day and XM +1.5.

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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