29 Mar – 01 Apr 2016

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Australian Unity’s ASX-listed 3 year bond (ASX Code: AYUHA), matures shortly and will be redeemed on 14 April. There will be no trading on the ASX after Monday 4 April.

The median ASX-listed floating rate note and bond margin rose during the week to finish at 2.86%, up 16bps from 2.80%.

Ignoring the now-routine changes in Crown’s two series of notes, the biggest trading margin rise came from Colonial Group notes (ASX Code: CNGHA), which have a March 2017 call date and thus less than 12 month to run. Readers will recall the caution required for securities approaching redemption in that the yield-to-maturity calculations can jump around and be a bit misleading.

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ASX LISTED FLOATING RATE NOTES

COMPANY
$100
Face Val
CODEBOND
TYPE
MATURITYISSUE
MARGIN
TRADING
MARGIN
Δ WEEKWEEK
CLOSE
YTM
Est**
AGLAGLHASub Note8/06/20193.80%3.46%-0.12%101.355.74%
AMPAMPHASub Note II18/12/20182.65%2.08%-0.24%101.604.36%
ANZ Banking GroupANZHASub Note II14/06/20172.75%1.73%-0.07%101.304.01%
APT PipelinesAQHHASub Note31/03/20184.50%3.24%-0.05%102.355.52%
Australian UnityAYUHABond14/04/20163.55%11.86%0.41%101.0014.14%
ColonialCNGHASub Note31/03/20173.25%2.07%0.53%101.114.35%
CaltexCTXHASub Note15/09/20174.50%2.86%0.16%102.555.14%
CrownCWNHASub Note14/09/20185.00%12.14%0.76%85.8014.42%
CrownCWNHBSub Note23/07/20214.00%11.06%0.37%74.2013.34%
Goodman GroupGMPPASub Note30/09/20183.90%4.33%-0.43%99.006.61%
Bentham IMFIMFHABond30/06/20194.20%4.67%-0.34%98.506.95%
Nat Aust BankNABHBSub Note18/06/20172.75%1.69%-0.15%101.383.97%
OriginORGHASub Note22/12/20164.00%5.65%0.08%99.007.93%
Suncorp MetwaySUNPDSub Note II21/11/20182.85%2.73%0.12%100.805.01%
TabcorpTAHHBSub Bond22/03/20174.00%3.13%0.16%100.955.41%
TattsTTSHASnr. Bond5/07/20193.10%1.72%0.63%104.104.00%
WestpacWBCHASub Note23/08/20172.75%1.86%0.05%101.664.14%
WestpacWBCHBSub Note II22/08/20182.30%2.83%0.16%99.255.11%
WoolworthsWOWHCSub Note24/11/20163.25%2.22%0.45%101.164.50%

ASX LISTED CONVERTIBLE NOTES

COMPANYCODEFACE
VALUE
MATURITYWEEK
HIGH
WEEK
LOW
WEEK
CLOSE
YTMSIZE
($m)
Aust FoundationAFIG$100.0028/02/2017110.14110.14110.147.21%$3.13 on 19 Aug 2016 (E)
Peet GroupPPCG$100.0016/06/20160.00101.00101.0017.65%$4.75 on 04 Jun 2016 (A)

ASX CASH & BOND ETFS*

NAMESYMBOLCLOSE
PRICE
1m (%)1y (%)MER (%)FUND
SIZE ($m)
BetaShares Aust High Int CashAAA50.100.212.610.18876.63
SPDR S&P/ASX Aust BondBOND26.021.062.840.2421.03
SPDR S&P/ASX Aust Govt BondGOVT25.881.243.010.227.83
iShares Composite Bond ETFIAF107.001.022.820.24313.41
iShares Treasury ETFIGB104.701.282.530.2618.56
iShares Govt Inflation ETFILB115.040.49-1.140.2655.11
Russell Aust Select Corp Bond ETFRCB20.260.292.330.2879.26
Russell Aust Govt Bond ETFRGB21.561.453.040.24138.14
Russell Aust Semi-Govt Bond ETFRSM20.500.822.990.26122.71
Vanguard® Aust Fxd Int Index ETFVAF49.681.022.80.2340.13
Vanguard® Aust Govt Bond Index ETFVGB49.431.222.930.269.92
Vanguard® International Crdt Securities Ind(Hedged) ETFVCF51.650.74-0.32.07
Vanguard® International Fix Int Ind(Hedged) ETFVIF52.351.44-0.26.81

** YTM for floating rate securities is an estimate using current interest rates. This will vary if rates change.
Source: Evans & Partners. Dealing Contact Michael Saba +61 3 9631 9813

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