The Australian Office of Financial.....>

AUSSIE BONDS: The Australian Office of Financial Management (AOFM) will today

sell A$900mln of 2.75% Nov 2028 bonds, issue #TB152, the issue is part of the

underlying basket for 10-Year futures, currently XMU7.

- The issue was last sold on August 21 for A$800mln, the sale drew an average

yield of 2.6998%, covered 2.99x. In the secondary market the issue currently

yields 2.739%, up 3.5bp on the day.

- The line has A$16.6bln outstanding with a modified duration of 9.52 years.

- The AU/US 10-Year spread is last at 50.9bp, just off highs of 2017 of 57bp.

- The 2.75% Nov 2028 looks rich on the curve at -7bp on an ASW basis, especially

compared to the 4.25% 2026 which has already started cheapening as it gets set

to fall out of the 10-year basket.

- This is the last supply for this week from the AOFM. Results due at at

0200BST/1100AEST.