12 Sep – 16 Sep 2016

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There were no new issues announced but by the looks of Treasury Corp NSW’s list of outstanding benchmark bonds, $300 million May 2026s and $50 million March 2028s were issued in the week.

Spreads tightened again this week, although NSWTC series typically widened by a basis point or two, which may be related to the new supply mentioned above. However, TCV spreads also widened and so the suspicion is the spread contraction is more likely to be related to the higher yields offered by AA states rather than some short supply issue.

160916-semis

AUST SEMI GOVT BOND

ISSUERMATURITYCOUPON
(%)
ISSUE
SIZE
WEEK
HIGH
WEEK
LOW
CLOSING
YIELD
Δ WEEKΔ MONTH
TCV15-Nov-165.7532661.701.681.690.000.01
NTTC20-Nov-165.755001.891.831.830.030.03
NSWTC20-Feb-17436301.741.731.740.000.13
NSWTC1-Mar-175.56871.681.671.680.010.13
WATC15-Jul-17854591.771.741.760.030.12
QTC14-Sep-17610381.641.621.620.020.08
SAFA20-Sep-175.7524031.721.711.720.030.10
TASCORP20-Sep-1759801.771.741.750.020.10
QTC21-Sep-173.548231.711.681.690.030.08
NTTC17-Nov-174.755001.791.761.770.030.09
TCV17-Nov-173.528251.711.691.700.030.10
NSWTC1-Feb-18646701.721.691.690.010.12
QTC21-Feb-18655621.751.711.71-0.020.11
ACTTREAS7-Jun-185.55501.831.791.790.020.12
NTTC20-Sep-184.755001.881.851.85-0.010.13
WATC23-Oct-183.7550701.841.811.810.000.10
TCV15-Nov-185.540131.731.721.720.030.13
NSWTC20-Mar-193.546721.781.741.760.060.18
NSWTC1-Apr-1965491.701.661.680.070.18
QTC14-Jun-196.2530401.731.681.690.060.15
QTC21-Jun-19457831.861.811.820.050.15
SAFA6-Aug-194.7520001.891.851.850.060.16
WATC15-Oct-19741731.911.871.900.060.13
QTC21-Feb-206.2596861.931.871.900.090.18
NSWTC1-May-20662081.841.771.820.100.19
ACTTREAS22-May-204.255701.951.881.920.100.23
NSWTC1-Jun-2061061.751.681.730.110.20
TASCORP15-Jun-2066541.981.921.960.090.18
TCV15-Jun-20662081.841.771.820.100.18
NSWTC8-Apr-21434311.921.851.910.120.20
SAFA20-May-21520442.082.022.060.100.19
QTC14-Jun-21615431.891.831.880.100.18
QTC21-Jun-215.569782.041.982.030.110.18
WATC15-Jul-21734112.152.092.140.100.17
NTTC20-Sep-214.256502.182.112.150.110.21
NSWTC1-Mar-22658042.001.921.990.140.19
TASCORP8-Mar-224.257132.202.132.190.120.21
ACT TREAS11-Apr-224.255502.152.082.120.130.20
QTC21-Jul-22682082.152.112.150.100.17
TCV17-Oct-22661352.011.942.000.130.18
NSWTC20-Apr-23442232.102.042.100.130.17
NSWTC1-May-23610181.981.921.980.120.17
QTC21-Jul-234.2578932.292.242.290.110.16
WATC16-Oct-23636772.392.352.390.100.10
SAFA20-Nov-234.2515202.332.292.320.100.15
NTTC15-Mar-2466502.432.352.410.140.19
TASCORP11-Jun-2446672.412.352.400.130.19
QTC22-Jul-245.7579662.372.312.370.130.15
NSWTC20-Aug-24563232.192.132.180.140.17
TCV17-Dec-245.548892.202.132.190.130.18
SAFA16-Apr-252.7512502.492.442.490.130.13
QTC21-Jul-254.7559342.472.412.470.130.14
WATC23-Jul-25530592.602.552.600.120.13
TASCORP19-Feb-263.254452.582.522.580.140.16
NTTC15-Mar-2666502.562.492.550.140.18
QTC21-Jul-263.2536002.562.502.560.140.14
TCV17-Nov-265.537182.342.282.340.140.18
WATC21-Oct-2737002.822.772.810.110.12
QTC21-Jul-283.2510002.752.702.740.120.13
NSWTC1-May-3063822.642.562.620.150.25
TCV20-Dec-324.253612.842.772.840.170.22
QTC14-Mar-336.512103.032.943.020.170.21
Issues underlined are guaranteed by the Commonwealth Government