The Australian Office of Financial.....>

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

sell A$150mln of the 2.00% 21 August 2035 I/L Bond, issue #CAIN410.

- The line was last sold on 14 November 2017 for A$150mln. The sale drew an

average yield of 0.9732%, a high yield of 0.9800%, with 67% allotted at the high

yield and was covered 2.93x. There were 46 bidders, 17 of which were successful

and 15 were allocated in full.

- The line has $A3.800bln outstanding with a modified duration of 14.64 years.

- The line sits around 1.5bp richer than it did at the time of the most recent

auction after operating in a 0.80%-1.15% range over that horizon. 10-Year BEI's

are 15.5bp higher than they were at the time of the most recent auction.

- The CPI outlook in Australia remains muted, which will likely crimp demand for

I/L paper over the medium term.

- Results due at 0200BST/1100AEST.