Summary: Semi-government bond spreads 3bps wider on average.
Semi-government spreads finished the week 3bps wider on average as semi-government yields outpaced the rises of their Commonwealth counterparts. The majority of spreads in the sample varied within or quite close to a range from -7bps to +8bps and the only notable exceptions came from short-dated lines.
AUSTRALIAN SEMI GOVT BONDS
| ISSUER | MATURITY | COUPON (%) | ISSUE SIZE | CLOSING YIELD | Δ WEEK | Δ MONTH | WEEK HIGH | WEEK LOW |
|---|---|---|---|---|---|---|---|---|
| QTC | 21-Jul-23 | 6.00 | 7,584 | 4.07 | 0.02 | 0.17 | 4.09 | 4.06 |
| WATC | 16-Oct-23 | 4.25 | 3,577 | 4.30 | -0.03 | 0.26 | 4.30 | 4.24 |
| SAFA | 20-Nov-23 | 6.00 | 1,520 | 4.29 | -0.06 | 0.22 | 4.29 | 4.24 |
| TCV | 21-Nov-23 | 1.00 | 1,122 | 4.37 | -0.02 | 0.30 | 4.37 | 4.27 |
| NSWTC | 8-Feb-24 | 5.25 | 4,542 | 4.55 | 0.07 | 0.47 | 4.55 | 4.41 |
| NTTC | 15-Mar-24 | 4.25 | 650 | 4.44 | 0.02 | 0.39 | 4.44 | 4.32 |
| QTC | 22-Jul-24 | 4.00 | 7,824 | 4.64 | 0.16 | 0.65 | 4.64 | 4.42 |
| WATC | 23-Jul-24 | 5.75 | 4,191 | 4.62 | 0.13 | 0.62 | 4.62 | 4.42 |
| SAFA | 15-Aug-24 | 2.50 | 2,628 | 4.60 | 0.12 | 0.60 | 4.60 | 4.40 |
| NSWTC | 20-Aug-24 | 2.25 | 4,324 | 4.62 | 0.14 | 0.61 | 4.62 | 4.41 |
| TCV | 17-Dec-24 | 5.00 | 6,226 | 4.64 | 0.17 | 0.65 | 4.64 | 4.41 |
| NSWTC | 20-Mar-25 | 5.25 | 2,100 | 4.71 | 0.20 | 0.76 | 4.71 | 4.44 |
| SAFA | 16-Apr-25 | 5.50 | 1,250 | 4.66 | 0.20 | 0.76 | 4.66 | 4.40 |
| ACTTREAS | 22-May-25 | 5.25 | 1,000 | 4.72 | 0.19 | 0.73 | 4.72 | 4.47 |
| QTC | 21-Jul-25 | 2.75 | 8,581 | 4.67 | 0.23 | 0.78 | 4.67 | 4.38 |
| WATC | 23-Jul-25 | 4.75 | 5,578 | 4.65 | 0.22 | 0.75 | 4.65 | 4.37 |
| TASCORP | 19-Feb-26 | 5.00 | 1,229 | 4.60 | 0.22 | 0.82 | 4.60 | 4.32 |
| NTTC | 15-Mar-26 | 3.25 | 650 | 4.63 | 0.21 | 0.82 | 4.63 | 4.36 |
| NSWTC | 20-May-26 | 6.00 | 5,473 | 4.58 | 0.25 | 0.81 | 4.58 | 4.27 |
| SAFA | 20-Jul-26 | 4.00 | 3,540 | 4.54 | 0.22 | 0.78 | 4.54 | 4.26 |
| QTC | 21-Jul-26 | 3.00 | 8,610 | 4.55 | 0.24 | 0.80 | 4.55 | 4.25 |
| WATC | 21-Oct-26 | 3.00 | 5,147 | 4.51 | 0.26 | 0.80 | 4.51 | 4.20 |
| TCV | 17-Nov-26 | 3.25 | 10,745 | 4.62 | 0.24 | 0.79 | 4.62 | 4.32 |
| NTTC | 21-Apr-27 | 5.50 | 600 | 4.56 | 0.22 | 0.71 | 4.56 | 4.28 |
| NSWTC | 20-May-27 | 2.75 | 9,111 | 4.53 | 0.26 | 0.75 | 4.53 | 4.21 |
| QTC | 20-Aug-27 | 3.00 | 8,794 | 4.51 | 0.25 | 0.75 | 4.51 | 4.20 |
| SAFA | 20-Sep-27 | 2.75 | 1,500 | 4.53 | 0.26 | 0.75 | 4.53 | 4.21 |
| WATC | 21-Oct-27 | 3.00 | 4,199 | 4.49 | 0.27 | 0.76 | 4.49 | 4.17 |
| NSWTC | 20-Mar-28 | 3.00 | 10,293 | 4.57 | 0.27 | 0.75 | 4.57 | 4.24 |
| SAFA | 24-May-28 | 3.00 | 4,040 | 4.58 | 0.27 | 0.73 | 4.58 | 4.25 |
| QTC | 21-Jul-28 | 3.25 | 8,520 | 4.55 | 0.27 | 0.75 | 4.55 | 4.22 |
| TCV | 20-Oct-28 | 3.00 | 10,904 | 4.62 | 0.27 | 0.72 | 4.62 | 4.31 |
| NSWTC | 20-Apr-29 | 3.00 | 10,233 | 4.63 | 0.28 | 0.70 | 4.63 | 4.28 |
| NTTC | 21-May-29 | 2.00 | 600 | 4.70 | 0.26 | 0.70 | 4.70 | 4.38 |
| ACTTREAS | 22-May-29 | 5.25 | 900 | 4.66 | 0.26 | 0.71 | 4.66 | 4.33 |
| WATC | 24-Jul-29 | 2.75 | 3,661 | 4.60 | 0.29 | 0.71 | 4.60 | 4.25 |
| QTC | 21-Aug-29 | 3.25 | 7,635 | 4.62 | 0.29 | 0.70 | 4.62 | 4.27 |
| TCV | 22-Oct-29 | 2.50 | 10,381 | 4.71 | 0.29 | 0.69 | 4.71 | 4.36 |
| NSWTC | 20-Feb-30 | 3.00 | 10,841 | 4.68 | 0.28 | 0.67 | 4.68 | 4.34 |
| NTTC | 21-May-30 | 2.00 | 750 | 4.81 | 0.26 | 0.66 | 4.81 | 4.49 |
| SAFA | 24-May-30 | 2.75 | 3,865 | 4.69 | 0.28 | 0.68 | 4.69 | 4.36 |
| QTC | 21-Aug-30 | 3.50 | 8,962 | 4.67 | 0.29 | 0.67 | 4.67 | 4.32 |
| TCV | 20-Nov-30 | 5.25 | 8,401 | 4.78 | 0.28 | 0.65 | 4.78 | 4.44 |
| NSWTC | 20-Mar-31 | 2.00 | 10,353 | 4.79 | 0.28 | 0.63 | 4.79 | 4.45 |
| NTTC | 21-Apr-31 | 5.25 | 750 | 4.88 | 0.25 | 0.63 | 4.88 | 4.56 |
| QTC | 21-Aug-31 | 1.75 | 7,357 | 4.74 | 0.28 | 0.62 | 4.74 | 4.41 |
| ACTTREAS | 23-Oct-31 | 5.25 | 1,000 | 4.81 | 0.25 | 0.61 | 4.81 | 4.50 |
| NSWTC | 20-Feb-32 | 2.00 | 11,761 | 4.91 | 0.29 | 0.62 | 4.91 | 4.56 |
| SAFA | 24-May-32 | 5.25 | 3,310 | 4.89 | 0.28 | 0.62 | 4.89 | 4.55 |
| TCV | 20-Dec-32 | 4.25 | 11,199 | 4.98 | 0.29 | 0.61 | 4.98 | 4.63 |
| NSWTC | 8-Mar-33 | 5.25 | 13,195 | 5.01 | 0.29 | 0.60 | 5.01 | 4.66 |
| QTC | 14-Mar-33 | 6.50 | 662 | 4.86 | 0.29 | 0.59 | 4.86 | 4.52 |
| NSWTC | 20-Mar-34 | 1.75 | 7,374 | 5.11 | 0.29 | 0.58 | 5.11 | 4.76 |
| QTC | 20-Jul-34 | 1.75 | 6,078 | 5.03 | 0.30 | 0.58 | 5.03 | 4.68 |
| WATC | 24-Oct-34 | 2.00 | 1,643 | 4.94 | 0.27 | 0.56 | 4.94 | 4.60 |
| QTC | 16-Apr-40 | 2.25 | 1,482 | 5.34 | 0.18 | 0.40 | 5.34 | 5.10 |
| NSWTC | 7-May-41 | 2.25 | 2,323 | 5.40 | 0.14 | 0.39 | 5.40 | 5.18 |
| QTC | 20-Nov-41 | 2.25 | 2,181 | 5.38 | 0.15 | 0.38 | 5.38 | 5.15 |