The Australian Office of Financial.....>

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

sell A$700mn of the 2.25% 21 November 2022 Bond, issue #TB153.

- The line doesn't feature in the underlying basket of the 3-Year Bond future

(YMU8), but is edging closer to inclusion.

- The line was last sold on 21 May 2018 for A$400mn. The sale drew an average

yield of 2.4172%, a high yield of 2.4200%, with 2.1% allotted at the high yield

and was covered 7.1125x. There were 36 bidders, 13 of which were successful and

6 were allocated in full.

- The line has $A10.9bln outstanding with a modified duration of 4.19 years.

- The line sits around 14.5bp richer than it did at the time of the most recent

auction. The line looks a little cheap on the curve, and offers the best carry

and roll on the curve.

- Results due at 0200BST/1100AEST.