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XM Unwinds Syndication Announcement Blip Lower

AUSSIE BONDS

XM blips lower on the ACGB Nov-33 syndication announcement, before recovering above pre-announcement levels to last trade at unchanged levels on the day. Note that many expected such an announcement (some even expected pricing next week), while next week’s AOFM issuance slate is light in the runup to syndication, with that combination likely facilitating the bounce after the initial early hedging flows subsided.

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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