The Australian Office of Financial.....>

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

sell A$1.0bn of the 2.75% 21 November 2029 Bond, issue #TB154.

- The line was last sold on September 24 2018 for A$800mn. The sale drew an

average yield of 2.7220%, a high yield of 2.7250% and was covered 2.8363x. There

was 35 bidders, 16 of which were successful and 9 were allocated in full.

- The line has $15.1bn outstanding with a modified duration of 9.41 years.

- The Bond forms part of the futures basket for XMZ8.

- The line's yield has operated in a ~15bp range in the time since the most

recent auction, last sitting around the middle of that range at 2.719%.

- The line looks a little expensive in Z-spread terms when compared to the

nearby April 2029, with the same holding true in ASW terms. The same can be said

when the Bond is compared to the May 2030 line.

- Results due at 0100BST/1100AEDT.