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 #TB138.

- The line was last sold on November 02 for A$1.0bn. The sale drew an average

yield of 2.6631%, a high yield of 2.6650% and was covered 2.9950x. There were 31

bidders, 18 of which were successful and 10 were allocated in full. The line has

$16.1bn outstanding with a modified duration of 9.33 years. The bond constitutes

part of the deliverable basket for XMZ8. The line's yield has operated in a

~23bp range in the time since the most recent auction, last sitting a little shy

of the top of that range at 2.7083%, the latest move higher in ACGB yields

largely took place alongside U.S. Tsy yields, although the recent broader rounds

of risk off tones surrounding U.S. equity woes & trade war matters have seen

yields back from highs.

- The line looks fairly valued against the Apr '29s & May '30s in RV terms,

including forward yield, with the Nov '28's offering the best value of the

current basket constituents, however, this is exp. as it will be the next to

drop out of the basket. Results due at 0000GMT/1100AEDT.