The Australian Office of Financial.....>

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

sell A$150mn of the 1.25% 21 August 2040 I/L Bond, issue #CAIN413.

- The line was last sold on 27 March 2018 for A$150mn. The sale drew an average

yield of 1.0113%, a high yield of 1.0150%, with 14.9% allotted at the high yield

and was covered 3.3333x. There were 33 bidders, 12 of which were successful and

9 were allocated in full.

- The line has $A3.4bn outstanding with a modified duration of 19.29 years.

- Westpac note that Australian "BEIs have risen in line with the US" but believe

that there "is little reason to expect a renewal of inflation fears anytime soon

even with the Fed's preferred core PCE deflator reaching its 2% target."

- Results due at 0200BST/1100AEST.