Summary: Trading margins of most securities fall over week. Aust. Unity “C” bonds has largest fall.
Trading margins of ASX-listed notes and bonds mostly moved lower again this week. The trading margin of Australian Unity Series c Bonds (ASX: AYUHC, -43bps) experienced the largest fall of the week.
Crown Subordinated Notes 2 (ASX code: CWNHB) are not displayed.
The current 3-month BBSW rate is just above zero. Add the trading margin from the above chart or from the tables to this figure for an estimate of the gross return per annum in the absence of BBSW rate changes. The gross return may contain imputation credits. BBSW typically is around 15bps (average since 1990) more than the RBA rate.
ASX-LISTED FLOATING RATE NOTES
| COMPANY | CODE | BOND TYPE | MATURITY | ISSUE MARGIN | TRADING MARGIN | Δ WEEK | WEEK CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Crown | CWNHB | Sub. Note | 23-Jul-21 | 4.00% | 24.32% | -4.47% | 93.35 | 4.33% |
| Omni Bridgeway | OBLHA | Bond | 31-Jan-22 | 4.20% | 4.77% | 0.34% | 100.01 | 4.23% |
| Peet | PPCHB | Bond | 5-Oct-22 | 3.65% | 5.08% | 0.06% | 100.01 | 4.69% |
| Nat. Aust. Bank | NABPE | Sub. Note Tier 2 | 20-Jun-23 | 2.20% | 1.33% | -0.25% | 102.55 | 2.16% |
| Qube Holdings | QUBHA | Sub. Note | 5-Oct-23 | 3.90% | 2.08% | -0.32% | 105.05 | 3.74% |
| Australian Unity | AYUHC | Bond Series C | 15-Dec-24 | 2.00% | 2.18% | -0.43% | 99.59 | 2.02% |
| Australian Unity | AYUHD | Bond Series D | 15-Dec-26 | 2.15% | 2.40% | -0.02% | 99.00 | 2.19% |
** Clean running yield.