The Australian Office of Financial.....>

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

sell A$1.0bln of the 3.25% 21 April 2029 Bond, issue #TB138.

- The line was last sold on April 23 2018, for A$500mln. The sale drew an

average yield of 2.8843%, a high yield of 2.8850%, with 36.5% allotted at the

high yield. There were 48 bidders, 13 of which were successful & 2 were

allocated in full.

- The line has $A21.7bln outstanding with a modified duration of 9.22 years.

- The line forms part of the deliverable basket for the 10-Year Bond future

which should support demand.

- In outright yield terms the bond sits ~10.0bp richer than when it was last

issued, while the Australian 3-/10-Year yield differential is around 2.0bp

steeper.

- Truth be told not much separates the line from the nearby Nov 28s & Nov 29s

following a bout of strong performance from the Nov 29s in recent times.

- Results due at 0200BST/1100AEST