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VIEW: Thursday saw CBA note that.......>

AUSSIE BONDS
AUSSIE BONDS: VIEW: Thursday saw CBA note that "there's been a pickup in SSA
issuance in recent week, though it hasn't been enough to offset maturities in
the market. Nonetheless, the spreads of SSAs to ACGBs have started widen
slightly, certainly in comparison to the Semi market which has sharply reduced
issuance beyond the normal bilateral deals. In the low yield environment we like
holding spread product and while we have been constructive on the overall
direction of yields, we've noted a few times recently that we believe investors
should increase their weighting to spread as ACGB yields move to the lower end
of their range."
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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