The Australian Office of Financial.....>

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

sell A$150mln of 0.75% November 2027 I/L Bond, issue #CAIN414.

- The line was last sold on 10 April 2018 for A$150mln. The sale drew an average

yield of 0.7075%, a high yield of 0.7125% with 100% allotted at the high yield

and was covered 2.7333x. There were 26 bidders, 10 of which were successful and

10 were allocated in full.

- The line has $A3.600bln outstanding with a modified duration of 9.09 years.

- 10-Year Break-Evens sit around the levels seen at the most recent auction, 9bp

or so off of the early May highs.

- The CPI outlook in Australia remains muted. Westpac note that Australian BEIs

have risen in line with the US, but suggest that there is little reason to

expect a renewal of inflation fears anytime soon.

- Results due at 0200BST/1100AEST.