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AUSSIE BONDS
AUSSIE BONDS: The Australian Office of Financial Management (AOFM) will today
sell A$900mn of the 2.50% 21 May 2030 Bond, issue #TB155.
- The line was last sold on 15 April 2019 for A$800mn. The sale drew an average
yield of 1.9783%, at a high yield of 1.9800% and was covered 3.419x.
- There were 31 bidders, 16 of which were successful and 7 were allocated in
full. Amount allotted at highest yield as percentage of amount bid at that yield
was 36.4%.
- The line forms part of the deliverable basket for YMM9.
- The line has cheapened in both z-spread & ASW terms recent months, although it
still looks a little rich, but it is the longest dated YM basket bond at
present, so that is to be expected. The cheapening of the line has seen the ACGB
04/2026-05/2030-04/2033 fly touch the lowest levels observed since the fly
became active.
- Results due at 0200BST/1100AEST.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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