Summary: Semi-government bond spreads 2bps tighter on average.
Semi-government spreads finished the week 2bps tighter on average as semi-government yields lagged the rises of their Commonwealth counterparts. The majority of spreads in the sample varied within or quite close to a range from -2bps to +2bps and, once again, the only realy exceptions came from a couple of November 2023 maturities.
AUSTRALIAN SEMI GOVT BOND
| ISSUER | MATURITY | COUPON (%) | ISSUE SIZE | CLOSING YIELD | Δ WEEK | Δ MONTH | WEEK HIGH | WEEK LOW |
|---|---|---|---|---|---|---|---|---|
| NSWTC | 20-Apr-23 | 2.5 | 4011 | 3.59 | 0.07 | 0.23 | 3.59 | 3.51 |
| QTC | 21-Jul-23 | 6 | 7971 | 3.73 | 0.05 | 0.21 | 3.74 | 3.69 |
| WATC | 16-Oct-23 | 4.25 | 3683 | 3.89 | 0.04 | 0.26 | 3.89 | 3.83 |
| SAFA | 20-Nov-23 | 6 | 1520 | 3.92 | -0.04 | 0.24 | 4.01 | 3.92 |
| TCV | 21-Nov-23 | 1 | 4932 | 3.92 | 0.00 | 0.27 | 3.97 | 3.90 |
| NSWTC | 8-Feb-24 | 5.25 | 4542 | 3.96 | -0.01 | 0.33 | 4.02 | 3.94 |
| NTTC | 15-Mar-24 | 4.25 | 650 | 4.03 | 0.02 | 0.36 | 4.07 | 3.99 |
| QTC | 22-Jul-24 | 4 | 8249 | 3.97 | 0.02 | 0.34 | 4.02 | 3.92 |
| WATC | 23-Jul-24 | 5.75 | 4857 | 3.98 | 0.01 | 0.35 | 4.02 | 3.92 |
| SAFA | 15-Aug-24 | 2.5 | 3128 | 3.98 | 0.02 | 0.34 | 4.03 | 3.92 |
| NSWTC | 20-Aug-24 | 2.25 | 4324 | 3.97 | 0.00 | 0.35 | 4.04 | 3.92 |
| TCV | 17-Dec-24 | 5 | 7126 | 3.96 | 0.04 | 0.35 | 4.00 | 3.89 |
| NSWTC | 20-Mar-25 | 5.25 | 2100 | 3.95 | 0.04 | 0.39 | 3.98 | 3.87 |
| SAFA | 16-Apr-25 | 5.5 | 1250 | 3.95 | 0.04 | 0.34 | 3.98 | 3.86 |
| ACTTREAS | 22-May-25 | 5.25 | 1000 | 3.99 | 0.04 | 0.41 | 4.02 | 3.90 |
| QTC | 21-Jul-25 | 2.75 | 8581 | 3.96 | 0.05 | 0.36 | 3.99 | 3.88 |
| WATC | 23-Jul-25 | 4.75 | 5558 | 3.96 | 0.05 | 0.34 | 3.98 | 3.87 |
| TASCORP | 19-Feb-26 | 5 | 1165 | 3.95 | 0.04 | 0.27 | 3.98 | 3.86 |
| NTTC | 15-Mar-26 | 3.25 | 650 | 4.03 | 0.04 | 0.35 | 4.06 | 3.93 |
| NSWTC | 20-May-26 | 6 | 5323 | 3.96 | 0.04 | 0.32 | 3.99 | 3.86 |
| SAFA | 20-Jul-26 | 4 | 3540 | 3.97 | 0.05 | 0.30 | 4.00 | 3.88 |
| QTC | 21-Jul-26 | 3 | 8610 | 3.96 | 0.04 | 0.30 | 3.99 | 3.86 |
| WATC | 21-Oct-26 | 3 | 5012 | 3.95 | 0.04 | 0.30 | 3.99 | 3.87 |
| TCV | 17-Nov-26 | 3.25 | 10167 | 3.99 | 0.03 | 0.30 | 4.03 | 3.90 |
| NTTC | 21-Apr-27 | 5.5 | 600 | 4.08 | 0.03 | 0.29 | 4.11 | 3.99 |
| NSWTC | 20-May-27 | 2.75 | 8861 | 4.01 | 0.03 | 0.30 | 4.04 | 3.93 |
| QTC | 20-Aug-27 | 3 | 8794 | 4.01 | 0.03 | 0.32 | 4.05 | 3.93 |
| SAFA | 20-Sep-27 | 2.75 | 1500 | 4.05 | 0.05 | 0.30 | 4.07 | 3.96 |
| WATC | 21-Oct-27 | 3 | 4049 | 4.00 | 0.05 | 0.30 | 4.02 | 3.91 |
| NSWTC | 20-Mar-28 | 3 | 9583 | 4.08 | 0.04 | 0.31 | 4.10 | 3.99 |
| SAFA | 24-May-28 | 3 | 4040 | 4.12 | 0.05 | 0.29 | 4.14 | 4.03 |
| QTC | 21-Jul-28 | 3.25 | 8520 | 4.07 | 0.05 | 0.29 | 4.09 | 3.98 |
| TCV | 20-Oct-28 | 3 | 9901 | 4.15 | 0.05 | 0.29 | 4.16 | 4.05 |
| NSWTC | 20-Apr-29 | 3 | 9403 | 4.19 | 0.07 | 0.31 | 4.19 | 4.08 |
| NTTC | 21-May-29 | 2 | 600 | 4.29 | 0.05 | 0.30 | 4.29 | 4.18 |
| ACTTREAS | 22-May-29 | 5.25 | 900 | 4.24 | 0.05 | 0.30 | 4.25 | 4.14 |
| WATC | 24-Jul-29 | 2.75 | 3571 | 4.18 | 0.07 | 0.29 | 4.18 | 4.07 |
| QTC | 21-Aug-29 | 3.25 | 7535 | 4.19 | 0.07 | 0.29 | 4.19 | 4.08 |
| TCV | 22-Oct-29 | 2.5 | 10100 | 4.25 | 0.07 | 0.29 | 4.25 | 4.15 |
| TASCORP | 24-Jan-30 | 2 | 1136 | 4.32 | 0.06 | 0.22 | 4.32 | 4.21 |
| NSWTC | 20-Feb-30 | 3 | 10441 | 4.28 | 0.07 | 0.30 | 4.28 | 4.17 |
| NTTC | 21-May-30 | 2 | 750 | 4.38 | 0.06 | 0.29 | 4.38 | 4.28 |
| SAFA | 24-May-30 | 2.75 | 3865 | 4.30 | 0.07 | 0.27 | 4.30 | 4.19 |
| QTC | 21-Aug-30 | 3.5 | 8587 | 4.27 | 0.07 | 0.28 | 4.27 | 4.16 |
| TCV | 20-Nov-30 | 5.25 | 8122 | 4.36 | 0.08 | 0.26 | 4.36 | 4.25 |
| NSWTC | 20-Mar-31 | 2 | 10003 | 4.42 | 0.09 | 0.29 | 4.42 | 4.30 |
| NTTC | 21-Apr-31 | 5.25 | 750 | 4.55 | 0.07 | 0.28 | 4.55 | 4.43 |
| QTC | 21-Aug-31 | 1.75 | 7357 | 4.40 | 0.08 | 0.26 | 4.40 | 4.28 |
| ACTTREAS | 23-Oct-31 | 5.25 | 1000 | 4.50 | 0.07 | 0.28 | 4.50 | 4.38 |
| SAFA | 24-May-32 | 5.25 | 3310 | 4.54 | 0.09 | 0.25 | 4.54 | 4.43 |
| TCV | 20-Dec-32 | 4.25 | 9608 | 4.58 | 0.10 | 0.25 | 4.58 | 4.46 |
| NSWTC | 8-Mar-33 | 5.25 | 9645 | 4.66 | 0.09 | 0.29 | 4.66 | 4.54 |
| QTC | 14-Mar-33 | 6.5 | 696 | 4.53 | 0.09 | 0.27 | 4.53 | 4.41 |
| QTC | 20-Jul-34 | 1.75 | 4885 | 4.72 | 0.08 | 0.26 | 4.72 | 4.60 |
| WATC | 24-Oct-34 | 2 | 1193 | 4.67 | 0.08 | 0.28 | 4.67 | 4.55 |
| QTC | 16-Apr-40 | 2.25 | 1482 | 5.07 | 0.07 | 0.29 | 5.07 | 4.98 |
| NSWTC | 7-May-41 | 2.25 | 2323 | 5.18 | 0.08 | 0.33 | 5.18 | 5.09 |
| QTC | 20-Nov-41 | 2.25 | 2181 | 5.12 | 0.07 | 0.32 | 5.12 | 5.03 |