29 Aug – 2 Sep 2016

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Spreads were generally lower and not just because NSWTC yields reversed the across the board rise from two weeks before. Little, if any, distinction was made between AAA and AA rated states.

Last week YieldReport mentioned the noticeable widening of the WA/QTC 10 year spread and we note the spread widened another basis point this week.

There were no bond issues from the states this week but SAFA repurchased $86.7 million of September 2017s as part of its plan to reduced outstanding bonds in this series to $2 billion. A further $50.582 million needs to be repurchased to reach the target.

160903 semi spreads

AUSTRALIAN SEMI GOVT BOND

ISSUERMATURITYCOUPON
(%)
ISSUE
SIZE
WEEK
HIGH
WEEK
LOW
CLOSING
YIELD
Δ WEEKΔ MONTH
TCV15-Nov-165.7532661.681.671.680.01-0.09
NTTC20-Nov-165.755001.811.791.810.03-0.06
NSWTC20-Feb-17436301.721.661.720.090.01
NSWTC1-Mar-175.56871.661.601.660.090.01
WATC15-Jul-17854591.671.631.670.06-0.03
QTC14-Sep-17610381.581.541.580.07-0.03
SAFA20-Sep-175.7524031.641.601.640.06-0.05
TASCORP20-Sep-1759801.691.641.690.07-0.02
QTC21-Sep-173.548231.641.601.640.06-0.04
NTTC17-Nov-174.755001.691.661.690.06-0.04
TCV17-Nov-173.528251.631.601.630.06-0.04
NSWTC1-Feb-18646701.621.581.620.040.01
QTC21-Feb-18655621.691.631.690.080.05
ACTTREAS7-Jun-185.55501.701.661.700.06-0.01
NTTC20-Sep-184.755001.811.741.810.070.03
WATC23-Oct-183.7550701.761.711.760.050.00
TCV15-Nov-185.540131.641.591.640.05-0.02
NSWTC20-Mar-193.546721.631.591.630.050.02
NSWTC1-Apr-1965491.541.511.540.040.01
QTC14-Jun-196.2530401.581.541.580.050.00
QTC21-Jun-19457831.721.671.720.050.01
SAFA6-Aug-194.7520001.731.691.730.04-0.01
WATC15-Oct-19741731.801.771.800.03-0.01
QTC21-Feb-206.2596861.761.731.760.030.00
NSWTC1-May-20662081.661.621.660.020.01
ACTTREAS22-May-204.255701.751.701.740.02-0.04
NSWTC1-Jun-2061061.571.511.53-0.01-0.02
TASCORP15-Jun-2066541.811.771.810.02-0.01
TCV15-Jun-20662081.671.631.670.030.00
NSWTC8-Apr-21434311.751.711.750.030.03
SAFA20-May-21520441.891.861.890.03-0.01
QTC14-Jun-21615431.721.681.710.02-0.01
QTC21-Jun-215.569781.871.831.870.030.00
WATC15-Jul-21734112.001.962.000.030.01
NTTC20-Sep-214.256501.981.931.960.010.00
NSWTC1-Mar-22658041.821.761.790.000.00
TASCORP8-Mar-224.257132.021.982.020.040.04
ACT TREAS11-Apr-224.255501.941.901.930.020.01
QTC21-Jul-22682082.001.951.980.02-0.02
TCV17-Oct-22661351.841.791.820.01-0.02
NSWTC20-Apr-23442231.931.861.90-0.010.00
NSWTC1-May-23610181.811.741.77-0.020.00
QTC21-Jul-234.2578932.122.072.110.01-0.02
WATC16-Oct-23636772.262.222.250.00-0.03
SAFA20-Nov-234.2515202.152.112.140.01-0.01
NTTC15-Mar-2466502.212.152.17-0.01-0.03
TASCORP11-Jun-2446672.202.152.190.010.01
QTC22-Jul-245.7579662.192.142.16-0.01-0.03
NSWTC20-Aug-24563232.001.941.97-0.01-0.01
TCV17-Dec-245.548892.001.951.970.00-0.02
SAFA16-Apr-252.7512502.322.272.28-0.01-0.04
QTC21-Jul-254.7559342.292.232.26-0.01-0.06
WATC23-Jul-25530592.452.402.42-0.01-0.02
TASCORP19-Feb-263.254452.392.342.36-0.01-0.03
NTTC15-Mar-2666502.352.292.320.00-0.02
QTC21-Jul-263.2536002.372.312.33-0.02-0.08
TCV17-Nov-265.537182.142.082.10-0.01-0.04
WATC21-Oct-2737002.692.632.65-0.01-0.01
QTC21-Jul-283.2510002.572.512.54-0.01-0.03
NSWTC1-May-3063822.372.322.370.030.04
TCV20-Dec-324.253612.602.542.580.000.03
QTC14-Mar-336.512102.802.752.76-0.020.01
Issues underlined are guaranteed by the Commonwealth Government