RBA bond-buying fails to resolve 3-5yr steepening
By Sophia Rodrigues
Published On 03 Apr 2020 , 04:07 PMThe Reserve Bank of Australia's bond-buying auction today for the same amount and bonds as yesterday has resulted in mostly higher yields. This means the steepening in the 3-5yr part of the curve once again remains unresolved.
With the exception of April 2027 where the cut-off yield fell to 0.5575% from 0.5675%, the rest of the yields rose. In particular, the cut-off yield on the April 2025 bond rose to 0.4025% today versus 0.3900% at yesterday's auction.
| Issuer | Coupon % |
Maturity mm/yy |
Amount purchased (face value) $m |
Weighted average yield % |
Cut-off yield % |
|---|---|---|---|---|---|
| CGS | 2.75 | 04/24 | 357 | 0.3110 | 0.3075 |
| CGS | 3.25 | 04/25 | 325 | 0.4044 | 0.4025 |
| CGS | 4.25 | 04/26 | 481 | 0.4802 | 0.4775 |
| CGS | 4.75 | 04/27 | 587 | 0.5620 | 0.5575 |
| CGS | 2.75 | 11/27 | 250 | 0.6139 | 0.6100 |
LATEST SNIPPETS
AOFM sells May 2032 at 1.0098% vs 1.17% at last tender
The AOFM has sold A$2.0 billion of 1.25% May 2032 government bond at a weighted average issue yield of 1.0098%,...
Published on : 17 Jun 2020 , 11:06 AMAOFM tender amounts for next week same as this week
The AOFM has announced tenders for next week, totaling A$4.0 billion of bonds and A$3.0 billion o...
Published on : 12 Jun 2020 , 12:08 PMAOFM sells Dec 2030 at 1.08% vs May 13 syndication yield 1.025%
The AOFM has sold A$2.0 billion of 1.0% December 2030 government bond at a weighted average issue yield of...
Published on : 10 Jun 2020 , 11:04 AMWill RBA announce bond-buying today?
All eyes on the RBA at 11:15am this morning for any announcement on bond-buying given three-year government bond yiel...
Published on : 10 Jun 2020 , 10:45 AMAOFM sells Nov 2024 bond, Yld up vs last tender
The AOFM has sold A$2.0 billion of 0.25% November 2024 government bond at a weighted average issue yield of 0.38...
Published on : 09 Jun 2020 , 11:05 AMAOFM cuts bond tenders next week; T-Note intact
The AOFM has announced tenders for next week, totaling A$4.0 billion of bonds and A$3.0 billion o...
Published on : 05 Jun 2020 , 12:18 PMAOFM sells 2032 bond at 1.17% vs March record 0.8185%
The AOFM has sold A$1.0 billion of 1.25% May 2032 government bond at a weighted average issue yield of 1.17%, hi...
Published on : 05 Jun 2020 , 11:06 AMAOFM sells April 2023 bond at 0.2496%
The AOFM has sold A$2.0 billion of 5.5% April 2023 government bond at a weighted average issue yield of 0.2496%,...
Published on : 03 Jun 2020 , 11:04 AMAustralia Q1 GDP seen -0.3%q/q but don't rush to declare recession
Based on forecasts from the big four banks, the median for Q1 GDP is -0.3% q/q (ANZ -0.2%, CBA -0.3%, NAB -0.1%, West...
Published on : 02 Jun 2020 , 10:39 PMAOFM sells A$2.0B of Nov 2029 at 0.8691%
The AOFM has sold A$2.0 billion of 2.75% November 2029 government bond at a weighted average issue yield of...
Published on : 02 Jun 2020 , 11:05 AM