Record orderbook for Australia new 2031; Record issuance likely

By Sophia Rodrigues

Published On 26 Aug 2020 , 09:58 AM

Orderbook for the 1% 21 November 2031 Australia government bond has closed with a record A$65.5 billion, surpassing the previous high held by the December 2030 bond which attracted A$53.5 billion. The final price is 9bps over the implied bid yield on 10-year futures, compared with 8.5bps-9.5bps on Tuesday and a 8bps-11bps at the time of launch. This works out to yield of 1.035%

The issuance is expected to be A$18 billion to A$21 billion and could surpass the A$19 billion issuance size for the December 2030 bond syndicated in May.

Citigroup Global Markets Australia Pty Limited, Commonwealth Bank of Australia, UBS AG, Australia Branch and Westpac Institutional Bank are Joint-Lead Managers for the issue.

LATEST SNIPPETS

Westpac ups forecast for third round of RBA QE

Westpac has revised its forecast for RBA's Bond Purchase Program, now expecting the second A$100 billion bond-buy...

Published on : 26 Mar 2021 , 11:19 AM
AOFM’s auction of June 2031 Australian govt bonds performs well

AOFM’s auction of A$1 billion of 1.5% June 2031 bond today generates relatively strong demand with weighted ave...

Published on : 05 Mar 2021 , 11:12 AM
AOFM’s auction of June 2031 Australian govt bond eyed

The results of the AOFM’s auction of A$1 billion of 1.5% June 2031 bond today will be an interesting one, given...

Published on : 05 Mar 2021 , 10:26 AM
Greater interest in ASX’s Bond Basket for September 3-Yr Bond Futures

More than usual interest this time in the bond basket for ASX’s September futures contract for three years. The...

Published on : 04 Mar 2021 , 11:11 AM
RBA succeeds in driving 3-year yield down at bond-buying auction today

The RBA's aggressive buying of bonds for second consecutive day under the 0.1% three-year yield target polic...

Published on : 26 Feb 2021 , 02:52 PM
AOFM doubles T-Notes issuance next week, as expected

As expected, the AOFM doubled the amount of T-Notes at tenders next week to A$2 billion from A$1 billion in the last...

Published on : 26 Feb 2021 , 12:10 PM
RBA buying A$3B under yield target policy (as CB-Intel flagged)

The RBA has announced it will buy A$3 billion of the April 2023 and April 2024 government bonds under the yield targe...

Published on : 26 Feb 2021 , 11:38 AM
AOFM may raise T-Notes tender next week

After reducing weekly T-Notes tenders to just A$1.0 billion (lowest since March last year) last two times, the AOFM m...

Published on : 26 Feb 2021 , 10:56 AM
Could RBA surprise with bond-buying today?

All eyes on the RBA today for any announcement on bond purchases under the three-year yield target policy. Since Nove...

Published on : 26 Feb 2021 , 10:35 AM
Australia wage price index beat expectations as some wage reductions unwind

Australia's wage price index beat expectations with a 0.6% q/q and 1.4% y/y rise in December 2020 quarter, data p...

Published on : 24 Feb 2021 , 11:37 AM