The Australian Office of Financial.....>

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

sell A$900mn of the 2.75% 21 November 2029 Bond, issue #TB154.

- The line was last sold on 10 April 2019 for A$900mn. The sale drew an average

yield of 1.8864%, at a high yield of 1.8875% and was covered 2.9056x.

- There were 32 bidders, 13 of which were successful and 6 were allocated in

full. Amount allotted at highest yield as percentage of amount bid at that yield

was 90.1%.

- The line forms part of the deliverable basket for XMM9.

- Looking at value metrics, the line sits away from recent richest levels vs.

swaps, although it has edged away from recent cheaps in the wake of Q1 CPI data.

The line doesn't look compelling vs. other basket bonds (although valuations are

relatively flat in the space). The ACGB 04/26-11/29-04/33 Fly has ticked away

from recent lows in the last few sessions

- Results due at 0200BST/1100AEST.