July 2015

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There was only the one new semi issued in July and that was from QTC which added $300m to its existing July 2024 line at a yield around 3.31% following the release of the 2015/16 budget. Semi yields fell across the month and spreads were generally maintained, except in the case of Queensland where the well-received budget saw spreads narrow further. The 2015/2016 borrowing requirement will be $6.5bn or about 8% higher than 2014/2015, the state is expected to grow at 4.5% and borrowings are expected to fall from 43.2bn to 38.1bn. Pressure on the state’s budget is also expected to ease as a pause of several years is taken on the Qld government’s contributions to the public servants’ superannuation scheme.

semi-yieldreport-july
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ISSUERMATURITYCOUPON
(%)
ISSUE SIZEMONTH
HIGH
MONTH
LOW
CLOSING
YIELD
Δ MONTHΔ 2 MONTH
QTC14-Oct-156.005232.062.042.080.040.09
NTTC20-Oct-156.255002.082.032.190.040.08
QTC21-Oct-156.0048692.192.142.150.030.06
TCV10-Nov-152.7512542.152.102.060.030.04
NSWTC1-Apr-166.0040112.062.022.02-0.020.03
QTC21-Apr-166.0052932.051.992.08-0.060.05
WATC8-Jun-163.0030812.152.082.06-0.080.01
TCV15-Nov-165.7528802.152.062.00-0.030.00
NTTC20-Nov-165.755002.051.992.13-0.070.04
NSWTC20-Feb-174.0040072.212.132.01-0.070.03
NSWTC1-Mar-175.508602.081.971.94-0.050.03
WATC15-Jul-178.0056562.021.902.09-0.190.00
QTC14-Sep-176.0014572.262.071.99-0.160.01
SAFA20-Sep-175.7524032.161.962.10-0.17-0.01
TASCORP20-Sep-175.009802.262.082.12-0.160.00
QTC21-Sep-173.5066632.292.092.11-0.170.00
NTTC17-Nov-174.755002.282.082.13-0.180.01
TCV17-Nov-173.5028912.312.112.06-0.150.02
NSWTC1-Feb-186.0053972.202.032.03-0.17-0.01
QTC21-Feb-186.0065522.221.992.14-0.21-0.01
ACTTREAS7-Jun-185.505502.352.102.13-0.17-0.01
NTTC20-Sep-184.755002.342.082.24-0.170.00
WATC23-Oct-183.7540922.442.192.25-0.23-0.03
TCV15-Nov-185.5041762.482.212.15-0.180.03
NSWTC20-Mar-193.5047682.342.112.18-0.20-0.01
NSWTC1-Apr-196.009952.392.132.10-0.200.00
QTC14-Jun-196.2532792.312.052.14-0.28-0.05
QTC21-Jun-194.0055442.432.112.32-0.26-0.03
SAFA6-Aug-194.7520002.602.282.34-0.27-0.01
WATC15-Oct-197.0036642.632.312.38-0.28-0.05
QTC21-Feb-206.2596862.672.342.43-0.26-0.05
NSWTC1-May-206.0061592.732.392.33-0.22-0.03
ACTTREAS22-May-204.255702.582.292.44-0.22-0.02
NSWTC1-Jun-206.001942.702.402.17-0.22-0.08
TASCORP15-Jun-206.006542.402.122.47-0.25-0.02
TCV15-Jun-206.0062262.752.422.37-0.210.00
NSWTC8-Apr-214.0030202.622.332.51-0.23-0.04
SAFA20-May-215.0020452.782.482.65-0.32-0.08
QTC14-Jun-215.5017143.002.622.48-0.30-0.09
QTC21-Jun-216.0065062.812.442.66-0.30-0.09
WATC15-Jul-217.0037492.992.632.70-0.30-0.11
NTTC20-Sep-214.256503.042.672.27-0.22-0.56
NSWTC1-Mar-226.0060892.542.252.63-0.24-0.04
TASCORP8-Mar-224.255982.932.592.82-0.30-0.05
ACTTREAS11-Apr-224.255503.172.812.79-0.23-0.03
QTC21-Jul-226.0075583.102.762.83-0.32-0.08
TCV17-Oct-226.0060693.202.802.71-0.25-0.01
NSWTC20-Apr-234.0043243.012.672.81-0.26-0.03
NSWTC1-May-236.0013213.142.802.69-0.25-0.04
QTC21-Jul-234.2563173.012.683.02-0.34-0.08
WATC16-Oct-236.0028673.413.023.05-0.37-0.12
SAFA20-Nov-234.2512703.483.043.05-0.36-0.07
NTTC15-Mar-246.006503.473.053.08-0.39-0.11
QTC22-Jul-245.7578853.543.083.12-0.38-0.09
NSWTC20-Aug-245.0063943.563.122.93-0.28-0.03
TCV17-Dec-245.5048673.282.922.95-0.29-0.02
QTC21-Jul-254.7534603.312.943.23-0.39-0.11
WATC23-Jul-255.0017413.683.233.27-0.40-0.12
NTTC15-Mar-266.006503.743.273.28-0.37-0.09
TCV17-Nov-265.5035593.723.283.14-0.29-0.01
NSWTC1-May-306.003493.503.143.37-0.290.02
TCV20-Dec-324.253323.733.373.57-0.250.08
QTC14-Mar-336.508403.913.573.72-0.360.01

Issues underlined are guaranteed by the Commonwealth Government

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