Summary: Semi-government bond spreads 2bps tighter on average.
Semi-government spreads finished the week about 2bps tighter on average as semi-government yields fell at the front of the curve and lagged the rises of their Commonwealth Government counterparts elsewhere along it. The majority of spreads in the sample varied within or quite close to a range from -4bps to -1bp and the exceptions were not particularly noteworthy.
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 | 3,571 | 4.02 | -0.10 | -0.30 | 4.13 | 4.02 |
| SAFA | 20-Nov-23 | 6.00 | 1,520 | 4.12 | -0.06 | -0.23 | 4.20 | 4.11 |
| TCV | 21-Nov-23 | 1.00 | 1,122 | 4.19 | -0.06 | -0.20 | 4.27 | 4.18 |
| NSWTC | 8-Feb-24 | 5.25 | 4,542 | 4.21 | -0.04 | -0.27 | 4.26 | 4.17 |
| NTTC | 15-Mar-24 | 4.25 | 650 | 4.14 | -0.07 | -0.29 | 4.22 | 4.11 |
| QTC | 22-Jul-24 | 4.00 | 7,574 | 4.22 | -0.07 | -0.26 | 4.30 | 4.19 |
| WATC | 23-Jul-24 | 5.75 | 4,191 | 4.22 | -0.06 | -0.27 | 4.29 | 4.19 |
| SAFA | 15-Aug-24 | 2.50 | 2,628 | 4.22 | -0.04 | -0.26 | 4.27 | 4.16 |
| NSWTC | 20-Aug-24 | 2.25 | 4,324 | 4.23 | -0.03 | -0.25 | 4.27 | 4.17 |
| TCV | 17-Dec-24 | 5.00 | 5,281 | 4.18 | -0.08 | -0.29 | 4.26 | 4.13 |
| NSWTC | 20-Mar-25 | 5.25 | 2,100 | 4.25 | -0.08 | -0.26 | 4.33 | 4.18 |
| SAFA | 16-Apr-25 | 5.50 | 1,250 | 4.26 | -0.04 | -0.20 | 4.30 | 4.17 |
| ACTTREAS | 22-May-25 | 5.25 | 1,000 | 4.29 | -0.03 | -0.25 | 4.32 | 4.19 |
| QTC | 21-Jul-25 | 2.75 | 8,581 | 4.23 | -0.06 | -0.21 | 4.30 | 4.15 |
| WATC | 23-Jul-25 | 4.75 | 5,573 | 4.21 | -0.07 | -0.23 | 4.29 | 4.15 |
| TASCORP | 19-Feb-26 | 5.00 | 1,229 | 4.23 | -0.02 | -0.15 | 4.23 | 4.11 |
| NTTC | 15-Mar-26 | 3.25 | 650 | 4.26 | -0.02 | -0.16 | 4.26 | 4.14 |
| NSWTC | 20-May-26 | 6.00 | 5,473 | 4.16 | -0.04 | -0.17 | 4.18 | 4.06 |
| SAFA | 20-Jul-26 | 4.00 | 3,540 | 4.14 | -0.04 | -0.18 | 4.16 | 4.04 |
| QTC | 21-Jul-26 | 3.00 | 8,610 | 4.14 | -0.04 | -0.17 | 4.16 | 4.03 |
| WATC | 21-Oct-26 | 3.00 | 5,147 | 4.11 | -0.03 | -0.15 | 4.12 | 4.00 |
| TCV | 17-Nov-26 | 3.25 | 11,223 | 4.20 | -0.03 | -0.18 | 4.21 | 4.09 |
| NTTC | 21-Apr-27 | 5.50 | 600 | 4.19 | -0.01 | -0.15 | 4.19 | 4.06 |
| NSWTC | 20-May-27 | 2.75 | 9,111 | 4.13 | -0.04 | -0.13 | 4.15 | 4.03 |
| QTC | 20-Aug-27 | 3.00 | 8,794 | 4.12 | -0.03 | -0.14 | 4.13 | 4.01 |
| SAFA | 20-Sep-27 | 2.75 | 1,500 | 4.16 | -0.02 | -0.11 | 4.16 | 4.05 |
| WATC | 21-Oct-27 | 3.00 | 4,199 | 4.11 | -0.02 | -0.12 | 4.11 | 3.99 |
| NSWTC | 20-Mar-28 | 3.00 | 11,293 | 4.21 | 0.00 | -0.09 | 4.21 | 4.06 |
| SAFA | 24-May-28 | 3.00 | 4,040 | 4.22 | 0.01 | -0.08 | 4.22 | 4.08 |
| QTC | 21-Jul-28 | 3.25 | 8,520 | 4.21 | 0.01 | -0.07 | 4.21 | 4.06 |
| TCV | 20-Oct-28 | 3.00 | 11,144 | 4.28 | 0.01 | -0.08 | 4.28 | 4.14 |
| NSWTC | 20-Apr-29 | 3.00 | 10,233 | 4.31 | 0.02 | -0.03 | 4.31 | 4.16 |
| NTTC | 21-May-29 | 2.00 | 600 | 4.41 | 0.04 | -0.03 | 4.41 | 4.25 |
| ACTTREAS | 22-May-29 | 5.25 | 900 | 4.35 | 0.04 | -0.05 | 4.35 | 4.20 |
| WATC | 24-Jul-29 | 2.75 | 3,661 | 4.28 | 0.02 | -0.03 | 4.28 | 4.13 |
| QTC | 21-Aug-29 | 3.25 | 7,635 | 4.31 | 0.01 | -0.02 | 4.31 | 4.15 |
| TCV | 22-Oct-29 | 2.50 | 10,677 | 4.39 | 0.02 | -0.03 | 4.39 | 4.25 |
| NSWTC | 20-Feb-30 | 3.00 | 11,041 | 4.43 | 0.06 | 0.03 | 4.43 | 4.27 |
| NTTC | 21-May-30 | 2.00 | 750 | 4.58 | 0.08 | 0.03 | 4.58 | 4.40 |
| SAFA | 24-May-30 | 2.75 | 3,865 | 4.47 | 0.07 | 0.05 | 4.47 | 4.29 |
| QTC | 21-Aug-30 | 3.50 | 8,962 | 4.43 | 0.06 | 0.05 | 4.43 | 4.26 |
| TCV | 20-Nov-30 | 5.25 | 8,551 | 4.55 | 0.06 | 0.05 | 4.55 | 4.38 |
| NSWTC | 20-Mar-31 | 2.00 | 10,603 | 4.60 | 0.07 | 0.09 | 4.60 | 4.43 |
| NTTC | 21-Apr-31 | 5.25 | 750 | 4.71 | 0.10 | 0.08 | 4.71 | 4.52 |
| QTC | 21-Aug-31 | 1.75 | 7,357 | 4.57 | 0.09 | 0.11 | 4.57 | 4.39 |
| ACTTREAS | 23-Oct-31 | 5.25 | 1,000 | 4.64 | 0.09 | 0.08 | 4.64 | 4.46 |
| NSWTC | 20-Feb-32 | 2.00 | 12,611 | 4.74 | 0.10 | 0.13 | 4.74 | 4.56 |
| SAFA | 24-May-32 | 5.25 | 3,310 | 4.76 | 0.12 | 0.15 | 4.76 | 4.56 |
| TCV | 20-Dec-32 | 4.25 | 11,349 | 4.82 | 0.07 | 0.13 | 4.82 | 4.65 |
| NSWTC | 8-Mar-33 | 5.25 | 13,195 | 4.85 | 0.10 | 0.13 | 4.85 | 4.66 |
| QTC | 14-Mar-33 | 6.50 | 662 | 4.71 | 0.10 | 0.13 | 4.71 | 4.52 |
| NSWTC | 20-Mar-34 | 1.75 | 2 | 4.97 | 0.10 | 0.15 | 4.97 | 4.77 |
| QTC | 20-Jul-34 | 1.75 | 6,078 | 4.91 | 0.10 | 0.18 | 4.91 | 4.71 |
| WATC | 24-Oct-34 | 2.00 | 1,649 | 4.82 | 0.10 | 0.15 | 4.82 | 4.61 |
| QTC | 16-Apr-40 | 2.25 | 1,482 | 5.31 | 0.13 | 0.15 | 5.31 | 5.09 |
| NSWTC | 7-May-41 | 2.25 | 2,318 | 5.43 | 0.14 | 0.17 | 5.43 | 5.20 |
| QTC | 20-Nov-41 | 2.25 | 2,181 | 5.35 | 0.11 | 0.12 | 5.35 | 5.14 |