RBA bond-buying outcome suggests more buying likely next week
By Sophia RodriguesPublished On 27 Aug 2020 , 04:07 PM
The RBA made nearly equal purchases of the April 2023 government bond and the April 2024 but didn't manage to sufficiently drive down yield. This means there is a possibility of more bond-buying on Monday if yields continue to be higher than the RBA's 0.25% target for three-year bonds.
At the bond-buying auction today, the RBA bought A$984 million of April 2023 bond at cut-off yield of 0.2575% and weighted average yield of 0.2603%.
The RBA also bought A$1.016 billion of the April 2024 bond at cut-off yield of 0.2925% and weighted average yield of 0.2948%.
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