The Australian Office of Financial.....>

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

sell A$1.0bn of the 2.25% 21 November 2022, issue #TB153.

- The line was last sold on 02 July 2018 for A$300mn. The sale drew an average

yield of 2.2034%, a high yield of 2.2050%, with 33.8% allotted at the high yield

and was covered 7.6833x. There were 32 bidders, 6 of which were successful and 2

were allocated in full. The cover ratio was somewhat elevated owing to the

reduction in auction size.

- The line has $11.9bn outstanding with a modified duration of 4.06 years.

- The Bond does not form part of the futures basket for YMU8.

- The line has operated in an 11bp range in the time since the most recent

auction, with the recent dovish rhetoric from the RBNZ pushing yields back to

levels observed around the time of the most recent auction, last 2.191%.

- Results due at 0200BST/1100AEST.