Summary: Semi-government bond spreads 2bps tighter.
Semi-government spreads finished the week about 2bps tighter on average as semi-government yields again slightly lagged the rises of their Commonwealth Government counterparts. The majority of spreads in the sample varied within or quite close to a range from -4bps to zero and the exceptions were not far away from this range.
AUSTRALIAN SEMI GOVT BONDS
| ISSUER | MATURITY | COUPON (%) | ISSUE SIZE | CLOSING YIELD | Δ WEEK | Δ MONTH | WEEK HIGH | WEEK LOW |
|---|---|---|---|---|---|---|---|---|
| WATC | 16-Oct-23 | 4.25 | 3353 | 4.03 | 0.01 | 0.02 | 4.06 | 4.02 |
| SAFA | 20-Nov-23 | 6.00 | 1520 | 4.05 | 0.00 | -0.02 | 4.06 | 4.05 |
| TCV | 21-Nov-23 | 1.00 | 1122 | 4.09 | -0.02 | -0.05 | 4.10 | 4.09 |
| NSWTC | 8-Feb-24 | 5.25 | 4542 | 4.20 | 0.02 | 0.05 | 4.20 | 4.18 |
| NTTC | 15-Mar-24 | 4.25 | 650 | 4.12 | 0.00 | 0.05 | 4.12 | 4.11 |
| QTC | 22-Jul-24 | 4.00 | 7340 | 4.30 | 0.03 | 0.12 | 4.30 | 4.25 |
| WATC | 23-Jul-24 | 5.75 | 3866 | 4.26 | 0.00 | 0.11 | 4.27 | 4.24 |
| SAFA | 15-Aug-24 | 2.50 | 2128 | 4.23 | 0.00 | 0.10 | 4.24 | 4.21 |
| NSWTC | 20-Aug-24 | 2.25 | 4324 | 4.28 | 0.00 | 0.12 | 4.29 | 4.25 |
| TCV | 17-Dec-24 | 5.00 | 5055 | 4.32 | 0.04 | 0.14 | 4.32 | 4.26 |
| NSWTC | 20-Mar-25 | 5.25 | 2100 | 4.42 | 0.06 | 0.20 | 4.44 | 4.34 |
| SAFA | 16-Apr-25 | 5.50 | 1250 | 4.40 | 0.04 | 0.20 | 4.42 | 4.33 |
| ACTTREAS | 22-May-25 | 5.25 | 1000 | 4.46 | 0.07 | 0.24 | 4.47 | 4.37 |
| QTC | 21-Jul-25 | 2.75 | 8581 | 4.40 | 0.06 | 0.20 | 4.41 | 4.32 |
| WATC | 23-Jul-25 | 4.75 | 5573 | 4.39 | 0.05 | 0.19 | 4.41 | 4.32 |
| TASCORP | 19-Feb-26 | 5.00 | 1229 | 4.39 | 0.03 | 0.20 | 4.43 | 4.33 |
| NTTC | 15-Mar-26 | 3.25 | 650 | 4.41 | 0.03 | 0.20 | 4.43 | 4.35 |
| NSWTC | 20-May-26 | 6.00 | 5473 | 4.32 | 0.04 | 0.18 | 4.35 | 4.25 |
| SAFA | 20-Jul-26 | 4.00 | 3540 | 4.29 | 0.03 | 0.18 | 4.32 | 4.24 |
| QTC | 21-Jul-26 | 3.00 | 8610 | 4.32 | 0.03 | 0.21 | 4.35 | 4.26 |
| WATC | 21-Oct-26 | 3.00 | 5157 | 4.28 | 0.03 | 0.19 | 4.30 | 4.22 |
| TCV | 17-Nov-26 | 3.25 | 11251 | 4.36 | 0.03 | 0.17 | 4.38 | 4.30 |
| NTTC | 21-Apr-27 | 5.50 | 600 | 4.33 | 0.04 | 0.17 | 4.36 | 4.27 |
| NSWTC | 20-May-27 | 2.75 | 9961 | 4.31 | 0.04 | 0.15 | 4.33 | 4.24 |
| QTC | 20-Aug-27 | 3.00 | 8794 | 4.31 | 0.04 | 0.16 | 4.33 | 4.25 |
| SAFA | 20-Sep-27 | 2.75 | 1500 | 4.32 | 0.03 | 0.17 | 4.34 | 4.27 |
| WATC | 21-Oct-27 | 3.00 | 4209 | 4.29 | 0.03 | 0.17 | 4.31 | 4.23 |
| NSWTC | 20-Mar-28 | 3.00 | 11293 | 4.36 | 0.05 | 0.16 | 4.38 | 4.29 |
| SAFA | 24-May-28 | 3.00 | 4040 | 4.38 | 0.05 | 0.17 | 4.40 | 4.31 |
| QTC | 21-Jul-28 | 3.25 | 8520 | 4.37 | 0.05 | 0.18 | 4.38 | 4.30 |
| TCV | 20-Oct-28 | 3.00 | 11569 | 4.46 | 0.06 | 0.18 | 4.47 | 4.38 |
| NSWTC | 20-Apr-29 | 3.00 | 10233 | 4.47 | 0.07 | 0.16 | 4.48 | 4.38 |
| NTTC | 21-May-29 | 2.00 | 750 | 4.57 | 0.07 | 0.18 | 4.58 | 4.47 |
| ACTTREAS | 22-May-29 | 5.25 | 900 | 4.52 | 0.07 | 0.20 | 4.52 | 4.42 |
| WATC | 24-Jul-29 | 2.75 | 3981 | 4.44 | 0.06 | 0.19 | 4.45 | 4.35 |
| QTC | 21-Aug-29 | 3.25 | 7635 | 4.48 | 0.07 | 0.18 | 4.48 | 4.39 |
| TCV | 22-Oct-29 | 2.50 | 10562 | 4.57 | 0.06 | 0.19 | 4.57 | 4.47 |
| NSWTC | 20-Feb-30 | 3.00 | 11041 | 4.61 | 0.09 | 0.20 | 4.61 | 4.50 |
| NTTC | 21-May-30 | 2.00 | 750 | 4.78 | 0.09 | 0.23 | 4.78 | 4.66 |
| SAFA | 24-May-30 | 2.75 | 3865 | 4.64 | 0.09 | 0.20 | 4.64 | 4.53 |
| QTC | 21-Aug-30 | 3.50 | 8962 | 4.62 | 0.09 | 0.22 | 4.62 | 4.51 |
| TCV | 20-Nov-30 | 5.25 | 9284 | 4.73 | 0.10 | 0.22 | 4.73 | 4.62 |
| NSWTC | 20-Mar-31 | 2.00 | 10653 | 4.78 | 0.11 | 0.22 | 4.78 | 4.65 |
| NTTC | 21-Apr-31 | 5.25 | 750 | 4.92 | 0.11 | 0.24 | 4.92 | 4.78 |
| QTC | 21-Aug-31 | 1.75 | 7357 | 4.76 | 0.10 | 0.22 | 4.76 | 4.63 |
| ACTTREAS | 23-Oct-31 | 5.25 | 1000 | 4.85 | 0.11 | 0.25 | 4.85 | 4.71 |
| NSWTC | 20-Feb-32 | 2.00 | 13827 | 4.92 | 0.12 | 0.22 | 4.92 | 4.78 |
| SAFA | 24-May-32 | 5.25 | 3750 | 4.96 | 0.12 | 0.25 | 4.96 | 4.82 |
| TCV | 20-Dec-32 | 4.25 | 11449 | 5.01 | 0.13 | 0.24 | 5.01 | 4.85 |
| NSWTC | 8-Mar-33 | 5.25 | 13195 | 5.04 | 0.13 | 0.23 | 5.04 | 4.89 |
| QTC | 14-Mar-33 | 6.50 | 662 | 4.91 | 0.11 | 0.24 | 4.91 | 4.78 |
| NSWTC | 20-Mar-34 | 1.75 | 2 | 5.14 | 0.13 | 0.22 | 5.14 | 4.99 |
| QTC | 20-Jul-34 | 1.75 | 7063 | 5.10 | 0.12 | 0.25 | 5.10 | 4.96 |
| WATC | 24-Oct-34 | 2.00 | 1649 | 5.00 | 0.11 | 0.23 | 5.00 | 4.87 |
| QTC | 16-Apr-40 | 2.25 | 1482 | 5.49 | 0.14 | 0.24 | 5.49 | 5.33 |
| NSWTC | 7-May-41 | 2.25 | 2318 | 5.62 | 0.15 | 0.28 | 5.62 | 5.45 |
| QTC | 20-Nov-41 | 2.25 | 2181 | 5.53 | 0.14 | 0.25 | 5.53 | 5.37 |