No "reasonable" seller of April 2024 bond at RBA's QE
By Sophia Rodrigues
Published On 08 Nov 2021 , 06:39 PMThe RBA's bond purchase program included the April 2024 government bond for the first time since it abandoned the yield target policy last week. But not a single bond was bought by the RBA. It is unlikely there were no offers, so the only likely explanation is there were no "reasonable" offers to sell.
Just a few days ago, the yield on the April 2024 bond rose sharply as market brought forward timing of RBA rate hike, and simultaneously expected the RBA to buy the bond to defend the yield target. As it turned out, the RBA dropped the target last week (November board meeting) and said it would buy the bond under its bond purchase program. The expectation was that there are many keen sellers in the market but the auction results show that may not be the case.
LATEST SNIPPETS
RBNZ Lifts OCR 25bps to 2.75%
The Reserve Bank of New Zealand lifted the Official Cash Rate by 25bps to 2.75%. The decision was reached by consensu...
Published on : 02 Sep 2026 , 12:15 PMAustralia And $1T Issuance
Australian Commonwealth securities on issue have crossed A$1 trillion. It is not the same as debt crossing A$1 trilli...
Published on : 02 Sep 2026 , 10:51 AMWhy RBA Meeting Dates Are Near-Rigid
Central banks announce monetary policy meeting dates up to two years in advance. For example, as of today, the Reserv...
Published on : 01 Sep 2026 , 10:46 AMRBA Stays on Hold
The Reserve Bank of Australia left the cash rate on hold at 4.35%, judging policy to be somewhat restrictive, while i...
Published on : 11 Aug 2026 , 02:39 PMRBNZ Raises OCR 25bps to 2.50%
The Reserve Bank of New Zealand lifted the Official Cash Rate by 25bps to 2.50%. The decision was reached by consensu...
Published on : 08 Jul 2026 , 12:30 PMRBA Retains Cash Rate At 4.35%
The Reserve Bank of Australia left the cash rate unchanged at 4.35%, in line with expectations.
Headline an...
Published on : 16 Jun 2026 , 02:43 PMRBNZ Leaves OCR Unchanged at 2.25%
The Reserve Bank of New Zealand left the OCR unchanged at 2.25% in a decision that saw Governor Anna Breman use her c...
Published on : 27 May 2026 , 12:14 PMRBA Delivers Third Hike in a Row
The Reserve Bank of Australia lifted the cash rate by 25bps to 4.35%, delivering its third straight rate hike and tak...
Published on : 05 May 2026 , 02:35 PMRBA Monetary Policy Board members to give speeches late-May/early June
Two external board members of the RBA's Monetary Policy Board are scheduled to deliver speeches in late May-early...
Published on : 22 Apr 2026 , 03:49 PMRBNZ Maintains OCR at 2.25%
The Reserve Bank of New Zealand left the Official Cash Rate unchanged at 2.25% but signalled it is prepared to lift t...
Published on : 08 Apr 2026 , 12:10 PM