The Australian Office of Financial.....>

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

sell A$600mln of the 2.75% 21 November 2029 Bond, issue #TB154.

- The line was last sold on 18 January 2018, via syndication, for A$9.6bln. The

sale was priced at 2.86%.

- The line has $A9.6bln outstanding with a modified duration of 9.71 years.

- In outright yield terms the bond sits ~4.5bp richer than when it was issued,

at ~2.815%, back from the late March lows of ~2.66%.

- RBC note that "this line has struggled after being issued through what we saw

as fair value back in January, and the AOFM has waited 100 days before deciding

to issue again. The bond looks a touch cheap to fair value, but much less so

than at various other stages over the past few months."

- Results due at 0200BST/1100AEST