The Australian Office of Financial.....>

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

sell A$1.0bn of the 4.25% 21 April 2026 Bond, issue #TB142.

- A peculiar area of the curve to tender, given the recent patterns set by the

AOFM, with the line itself not offered at auction since February 2017.

- Positioning on the curve (in terms of maturity) and current yield level when

compared to 3s, which are of course anchored by the RBA's YCC policy, don't

provide any screaming signals of demand, but the relatively small amount on

offer may support demand.

- Fitted curve models point to little in the way of relative value prop for the

line.

- Results due at 0200BST/1100AEST.