25 Jan – 29 Jan 2016

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The semi government bond market has been finally re-awakened in 2016 with a $1.1 billion syndicated sale of QTC’s July 2026 bonds which were first launched at the end of October 2015. The pricing in this latest deal at ACGB + 66.25bps was a few points more expensive than the pricing at the launch. The breakdown of buyers is in the chart below.

semi-bond-29jan
semi-gov

Semi spreads to ACGB’s were generally unchanged or a point tighter, as yields on semis generally fell a little more than those of the comparable Commonwealth bonds.

semi-gov-bond-29jan
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AUST SEMI GOVT BOND

ISSUERMATURITYCOUPON
(%)
ISSUE
SIZE
WEEK
HIGH
WEEK
LOW
CLOSING
YIELD
Δ WEEKΔ MONTH
NSWTC1-Apr-166.0043802.162.122.140.020.00
QTC21-Apr-166.0052932.252.232.230.000.02
WATC8-Jun-163.0032432.222.162.16-0.05-0.05
TCV15-Nov-165.7533602.132.122.130.010.02
NTTC20-Nov-165.755002.302.262.300.030.03
NSWTC20-Feb-174.0045172.042.032.030.00-0.13
NSWTC1-Mar-175.50n/a1.971.971.970.00-0.12
WATC15-Jul-178.0051022.162.132.13-0.02-0.11
QTC14-Sep-176.00n/a2.022.002.00-0.01-0.11
SAFA20-Sep-175.7524032.132.122.120.00-0.11
TASCORP20-Sep-175.009802.152.132.13-0.01-0.12
QTC21-Sep-173.5061092.142.122.12-0.01-0.11
NTTC17-Nov-174.755002.192.172.170.00-0.09
TCV17-Nov-173.5028172.082.062.06-0.01-0.14
NSWTC1-Feb-186.0056502.061.991.99-0.07-0.14
QTC21-Feb-186.0064772.152.102.10-0.05-0.15
ACTTREAS7-Jun-185.505502.172.112.11-0.07-0.15
NTTC20-Sep-184.755002.272.192.19-0.10-0.16
WATC23-Oct-183.7537472.252.192.19-0.07-0.17
TCV15-Nov-185.5043462.142.072.07-0.07-0.16
NSWTC20-Mar-193.5044022.142.072.07-0.07-0.17
NSWTC1-Apr-196.00n/a2.061.971.97-0.09-0.18
QTC14-Jun-196.25n/a2.162.092.09-0.07-0.19
QTC21-Jun-194.0055232.302.232.23-0.08-0.19
SAFA6-Aug-194.7520002.282.212.21-0.07-0.19
WATC15-Oct-197.0037542.382.312.31-0.08-0.19
QTC21-Feb-206.2596862.432.342.34-0.09-0.17
NSWTC1-May-206.0061312.242.162.16-0.08-0.16
ACTTREAS22-May-204.255702.402.302.30-0.10-0.21
NSWTC1-Jun-206.00n/a2.132.032.03-0.12-0.18
TASCORP15-Jun-206.006022.432.352.35-0.05-0.16
TCV15-Jun-206.0061852.302.222.22-0.07-0.18
NSWTC8-Apr-214.0025672.402.322.32-0.08-0.17
SAFA20-May-215.0020442.662.562.56-0.09-0.17
QTC14-Jun-216.00n/a2.482.392.39-0.09-0.17
QTC21-Jun-215.5064162.642.552.55-0.09-0.18
WATC15-Jul-217.0035732.722.622.62-0.09-0.17
NTTC20-Sep-214.256502.692.302.62-0.09-0.14
NSWTC1-Mar-226.0062052.542.452.45-0.09-0.17
TASCORP8-Mar-224.255652.792.702.70-0.07-0.16
ACT TREAS11-Apr-224.255502.692.622.62-0.08-0.23
QTC21-Jul-226.0075582.822.722.72-0.09-0.17
TCV17-Oct-226.0059952.652.552.55-0.09-0.17
NSWTC20-Apr-234.0036782.722.612.61-0.09-0.19
NSWTC1-May-236.00n/a2.592.492.49-0.10-0.20
QTC21-Jul-234.2555683.012.902.90-0.11-0.19
WATC16-Oct-236.0024273.102.992.99-0.11-0.17
SAFA20-Nov-234.257703.022.912.91-0.10-0.19
NTTC15-Mar-246.006503.102.972.97-0.12-0.18
TASCORP11-Jun-244.005503.092.992.99-0.08-0.16
QTC22-Jul-245.7565853.123.003.00-0.11-0.18
NSWTC20-Aug-245.0061192.842.732.73-0.10-0.19
TCV17-Dec-245.5048712.902.792.79-0.10-0.20
SAFA16-Apr-252.7512503.213.093.09-0.12-0.18
QTC21-Jul-254.7520603.253.123.12-0.13-0.17
WATC23-Jul-255.0010413.323.203.20-0.12-0.16
TASCORP19-Feb-263.253003.253.173.17-0.10-0.16
NTTC15-Mar-266.006503.293.163.16-0.12-0.20
TCV17-Nov-265.5033673.062.952.95-0.10-0.18
NSWTC1-May-306.003623.293.183.18-0.09-0.19
TCV20-Dec-324.25n/a3.513.403.40-0.10-0.19
QTC14-Mar-336.507253.693.593.59-0.10-0.18

Issues underlined are guaranteed by the Commonwealth Government

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