Summary: Semi-government bond spreads touch tigher on average.
Semi-government spreads finished the week a touch tighter on average as semi-government yields almost kept pace with the rises of their Commonwealth counterparts. The majority of spreads in the sample varied within or quite close to a range from -6bps to +2bps except for a bunch of semis with 2024 maturity dates.
AUSTRALIAN SEMI GOVT BONDS
| ISSUER | MATURITY | COUPON (%) | ISSUE SIZE | CLOSING YIELD | Δ WEEK | Δ MONTH | WEEK HIGH | WEEK LOW |
|---|---|---|---|---|---|---|---|---|
| NSWTC | 20-Apr-23 | 2.50 | 4,011 | 3.57 | 0.11 | -0.02 | 3.57 | 3.45 |
| QTC | 21-Jul-23 | 6.00 | 7,725 | 3.66 | 0.15 | -0.07 | 3.66 | 3.50 |
| WATC | 16-Oct-23 | 4.25 | 3,683 | 3.62 | 0.11 | -0.26 | 3.62 | 3.49 |
| SAFA | 20-Nov-23 | 6.00 | 1,520 | 3.62 | 0.14 | -0.30 | 3.62 | 3.46 |
| TCV | 21-Nov-23 | 1.00 | 1,122 | 3.59 | 0.04 | -0.33 | 3.61 | 3.53 |
| NSWTC | 8-Feb-24 | 5.25 | 4,542 | 3.48 | 0.08 | -0.48 | 3.51 | 3.38 |
| NTTC | 15-Mar-24 | 4.25 | 650 | 3.45 | 0.08 | -0.58 | 3.48 | 3.36 |
| QTC | 22-Jul-24 | 4.00 | 8,249 | 3.42 | 0.09 | -0.55 | 3.44 | 3.31 |
| WATC | 23-Jul-24 | 5.75 | 4,827 | 3.41 | 0.09 | -0.56 | 3.44 | 3.31 |
| SAFA | 15-Aug-24 | 2.50 | 3,128 | 3.38 | 0.09 | -0.59 | 3.41 | 3.28 |
| NSWTC | 20-Aug-24 | 2.25 | 4,324 | 3.41 | 0.09 | -0.57 | 3.43 | 3.30 |
| TCV | 17-Dec-24 | 5.00 | 6,956 | 3.36 | 0.12 | -0.60 | 3.39 | 3.23 |
| NSWTC | 20-Mar-25 | 5.25 | 2,100 | 3.38 | 0.09 | -0.58 | 3.42 | 3.24 |
| SAFA | 16-Apr-25 | 5.50 | 1,250 | 3.36 | 0.10 | -0.59 | 3.40 | 3.22 |
| ACTTREAS | 22-May-25 | 5.25 | 1,000 | 3.38 | 0.09 | -0.61 | 3.42 | 3.25 |
| QTC | 21-Jul-25 | 2.75 | 8,581 | 3.41 | 0.08 | -0.56 | 3.45 | 3.28 |
| WATC | 23-Jul-25 | 4.75 | 5,558 | 3.41 | 0.10 | -0.54 | 3.46 | 3.27 |
| TASCORP | 19-Feb-26 | 5.00 | 1,165 | 3.36 | 0.10 | -0.60 | 3.40 | 3.21 |
| NTTC | 15-Mar-26 | 3.25 | 650 | 3.44 | 0.09 | -0.59 | 3.48 | 3.30 |
| NSWTC | 20-May-26 | 6.00 | 5,323 | 3.39 | 0.08 | -0.57 | 3.44 | 3.26 |
| SAFA | 20-Jul-26 | 4.00 | 3,540 | 3.39 | 0.07 | -0.59 | 3.43 | 3.27 |
| QTC | 21-Jul-26 | 3.00 | 8,610 | 3.40 | 0.08 | -0.56 | 3.44 | 3.26 |
| WATC | 21-Oct-26 | 3.00 | 5,007 | 3.36 | 0.06 | -0.60 | 3.41 | 3.25 |
| TCV | 17-Nov-26 | 3.25 | 10,277 | 3.42 | 0.09 | -0.57 | 3.47 | 3.29 |
| NTTC | 21-Apr-27 | 5.50 | 600 | 3.47 | 0.06 | -0.60 | 3.52 | 3.37 |
| NSWTC | 20-May-27 | 2.75 | 8,861 | 3.43 | 0.07 | -0.58 | 3.48 | 3.32 |
| QTC | 20-Aug-27 | 3.00 | 8,794 | 3.42 | 0.06 | -0.59 | 3.48 | 3.32 |
| SAFA | 20-Sep-27 | 2.75 | 1,500 | 3.47 | 0.05 | -0.58 | 3.53 | 3.38 |
| WATC | 21-Oct-27 | 3.00 | 4,054 | 3.41 | 0.06 | -0.59 | 3.46 | 3.31 |
| NSWTC | 20-Mar-28 | 3.00 | 9,643 | 3.50 | 0.04 | -0.58 | 3.56 | 3.42 |
| SAFA | 24-May-28 | 3.00 | 4,040 | 3.52 | 0.04 | -0.61 | 3.57 | 3.44 |
| QTC | 21-Jul-28 | 3.25 | 8,520 | 3.49 | 0.05 | -0.59 | 3.54 | 3.40 |
| TCV | 20-Oct-28 | 3.00 | 10,546 | 3.55 | 0.03 | -0.59 | 3.62 | 3.48 |
| NSWTC | 20-Apr-29 | 3.00 | 9,933 | 3.62 | 0.04 | -0.57 | 3.70 | 3.55 |
| NTTC | 21-May-29 | 2.00 | 600 | 3.72 | 0.06 | -0.57 | 3.79 | 3.63 |
| ACTTREAS | 22-May-29 | 5.25 | 900 | 3.66 | 0.05 | -0.58 | 3.73 | 3.58 |
| WATC | 24-Jul-29 | 2.75 | 3,576 | 3.62 | 0.03 | -0.56 | 3.69 | 3.56 |
| QTC | 21-Aug-29 | 3.25 | 7,535 | 3.62 | 0.04 | -0.57 | 3.69 | 3.55 |
| TCV | 22-Oct-29 | 2.50 | 10,126 | 3.68 | 0.05 | -0.57 | 3.75 | 3.61 |
| NSWTC | 20-Feb-30 | 3.00 | 10,616 | 3.73 | 0.05 | -0.55 | 3.79 | 3.66 |
| NTTC | 21-May-30 | 2.00 | 750 | 3.88 | 0.06 | -0.51 | 3.94 | 3.79 |
| SAFA | 24-May-30 | 2.75 | 3,865 | 3.74 | 0.04 | -0.57 | 3.80 | 3.67 |
| QTC | 21-Aug-30 | 3.50 | 8,587 | 3.72 | 0.05 | -0.55 | 3.79 | 3.65 |
| TCV | 20-Nov-30 | 5.25 | 8,160 | 3.81 | 0.05 | -0.55 | 3.88 | 3.74 |
| NSWTC | 20-Mar-31 | 2.00 | 10,103 | 3.89 | 0.04 | -0.53 | 3.95 | 3.82 |
| NTTC | 21-Apr-31 | 5.25 | 750 | 4.00 | 0.06 | -0.54 | 4.06 | 3.92 |
| QTC | 21-Aug-31 | 1.75 | 7,357 | 3.86 | 0.04 | -0.54 | 3.92 | 3.79 |
| ACTTREAS | 23-Oct-31 | 5.25 | 1,000 | 3.94 | 0.05 | -0.56 | 4.00 | 3.86 |
| SAFA | 24-May-32 | 5.25 | 3,310 | 4.02 | 0.04 | -0.52 | 4.08 | 3.96 |
| TCV | 20-Dec-32 | 4.25 | 10,103 | 4.04 | 0.05 | -0.55 | 4.10 | 3.97 |
| NSWTC | 8-Mar-33 | 5.25 | 11,095 | 4.10 | 0.03 | -0.56 | 4.17 | 4.05 |
| QTC | 14-Mar-33 | 6.50 | 662 | 3.99 | 0.02 | -0.54 | 4.07 | 3.95 |
| QTC | 20-Jul-34 | 1.75 | 5,083 | 4.18 | 0.02 | -0.54 | 4.24 | 4.14 |
| WATC | 24-Oct-34 | 2.00 | 1,193 | 4.12 | 0.05 | -0.54 | 4.18 | 4.06 |
| QTC | 16-Apr-40 | 2.25 | 1,482 | 4.64 | 0.01 | -0.44 | 4.70 | 4.60 |
| NSWTC | 7-May-41 | 2.25 | 2,323 | 4.77 | 0.03 | -0.41 | 4.83 | 4.71 |
| QTC | 20-Nov-41 | 2.25 | 2,181 | 4.69 | 0.03 | -0.43 | 4.75 | 4.63 |