The Australian Office of Financial.....>

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

sell A$600mn of the 2.25% 21 November 2022 Bond, issue #TB153.

- The line was last sold on 22 August 2018 for A$1.0bn. The sale drew an average

yield of 2.1415%, a high yield of 2.1425%, with 41.9% allotted at the high yield

and was covered 4.615x. There were 41 bidders, 16 of which were successful and 6

were allocated in full.

- The line has $13.9bn outstanding with a modified duration of 3.97 years.

- The Bond does not form part of the futures basket for YMU8, but it is one of

the deliverable Bonds for YMZ8.

- The yield of the Bond has traded in a ~12bp range since the most recent

auction, last sitting at 2.1205%, pretty much bang in the middle of that range.

The line has been supported by the recent flattening bias and 2 strong tenders

in August.

- Results due at 0200BST/1100AEST.