Summary: Semi-government bond spreads 1bp tighter on average.
Semi-government spreads finished the week 1bp tighter on average as semi-government yields essentially 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 -4bps to +43bps and the exceptions were restricted to short-dated semis.
AUSTRALIAN SEMI GOVT BOND
| ISSUER | MATURITY | COUPON (%) | ISSUE SIZE | CLOSING YIELD | Δ WEEK | Δ MONTH | WEEK HIGH | WEEK LOW |
|---|---|---|---|---|---|---|---|---|
| NSWTC | 20-Apr-23 | 2.50 | 4011 | 3.54 | 0.25 | 0.30 | 3.54 | 3.35 |
| QTC | 21-Jul-23 | 6.00 | 7971 | 3.66 | 0.27 | 0.23 | 3.66 | 3.45 |
| WATC | 16-Oct-23 | 4.25 | 3814 | 3.82 | 0.33 | 0.21 | 3.82 | 3.57 |
| SAFA | 20-Nov-23 | 6.00 | 1520 | 3.91 | 0.39 | 0.23 | 3.91 | 3.60 |
| TCV | 21-Nov-23 | 1.00 | 4932 | 3.87 | 0.35 | 0.12 | 3.87 | 3.59 |
| NSWTC | 8-Feb-24 | 5.25 | 4692 | 3.84 | 0.37 | -0.01 | 3.84 | 3.54 |
| NTTC | 15-Mar-24 | 4.25 | 650 | 3.90 | 0.40 | 0.03 | 3.90 | 3.56 |
| TASCORP | 11-Jun-24 | 6.00 | 1176 | 3.92 | 0.44 | 0.05 | 3.92 | 3.57 |
| QTC | 22-Jul-24 | 4.00 | 8249 | 3.82 | 0.38 | 0.00 | 3.82 | 3.51 |
| WATC | 23-Jul-24 | 5.75 | 4957 | 3.84 | 0.39 | 0.00 | 3.84 | 3.54 |
| SAFA | 15-Aug-24 | 2.50 | 3128 | 3.84 | 0.41 | 0.00 | 3.84 | 3.52 |
| NSWTC | 20-Aug-24 | 2.25 | 4324 | 3.83 | 0.39 | -0.01 | 3.83 | 3.52 |
| TCV | 17-Dec-24 | 5.00 | 7126 | 3.80 | 0.40 | -0.07 | 3.80 | 3.49 |
| NSWTC | 20-Mar-25 | 5.25 | 2100 | 3.74 | 0.41 | -0.05 | 3.74 | 3.42 |
| SAFA | 16-Apr-25 | 5.50 | 1250 | 3.75 | 0.39 | -0.13 | 3.75 | 3.44 |
| ACTTREAS | 22-May-25 | 5.25 | 1000 | 3.79 | 0.40 | -0.05 | 3.79 | 3.48 |
| QTC | 21-Jul-25 | 2.75 | 8581 | 3.77 | 0.41 | -0.12 | 3.77 | 3.45 |
| WATC | 23-Jul-25 | 4.75 | 5558 | 3.75 | 0.40 | -0.15 | 3.75 | 3.44 |
| TASCORP | 19-Feb-26 | 5.00 | 1133 | 3.79 | 0.38 | -0.20 | 3.79 | 3.50 |
| NTTC | 15-Mar-26 | 3.25 | 650 | 3.86 | 0.40 | -0.10 | 3.86 | 3.55 |
| NSWTC | 20-May-26 | 6.00 | 5323 | 3.76 | 0.39 | -0.18 | 3.76 | 3.46 |
| SAFA | 20-Jul-26 | 4.00 | 3540 | 3.80 | 0.38 | -0.18 | 3.80 | 3.50 |
| QTC | 21-Jul-26 | 3.00 | 8610 | 3.77 | 0.38 | -0.18 | 3.77 | 3.49 |
| WATC | 21-Oct-26 | 3.00 | 5012 | 3.78 | 0.39 | -0.18 | 3.78 | 3.48 |
| TCV | 17-Nov-26 | 3.25 | 10206 | 3.82 | 0.40 | -0.19 | 3.82 | 3.51 |
| NTTC | 21-Apr-27 | 5.50 | 600 | 3.92 | 0.40 | -0.18 | 3.92 | 3.61 |
| NSWTC | 20-May-27 | 2.75 | 8861 | 3.84 | 0.39 | -0.19 | 3.84 | 3.54 |
| QTC | 20-Aug-27 | 3.00 | 8794 | 3.84 | 0.38 | -0.20 | 3.84 | 3.54 |
| SAFA | 20-Sep-27 | 2.75 | 1500 | 3.87 | 0.38 | -0.20 | 3.87 | 3.58 |
| WATC | 21-Oct-27 | 3.00 | 4049 | 3.83 | 0.38 | -0.20 | 3.83 | 3.54 |
| NSWTC | 20-Mar-28 | 3.00 | 9433 | 3.90 | 0.39 | -0.19 | 3.90 | 3.61 |
| SAFA | 24-May-28 | 3.00 | 4040 | 3.94 | 0.36 | -0.23 | 3.94 | 3.68 |
| QTC | 21-Jul-28 | 3.25 | 8520 | 3.90 | 0.37 | -0.22 | 3.90 | 3.63 |
| TCV | 20-Oct-28 | 3.00 | 9711 | 3.98 | 0.38 | -0.21 | 3.98 | 3.70 |
| NSWTC | 20-Apr-29 | 3.00 | 9403 | 4.01 | 0.37 | -0.19 | 4.01 | 3.73 |
| NTTC | 21-May-29 | 2.00 | 600 | 4.12 | 0.37 | -0.18 | 4.12 | 3.85 |
| ACTTREAS | 22-May-29 | 5.25 | 900 | 4.08 | 0.38 | -0.18 | 4.08 | 3.80 |
| WATC | 24-Jul-29 | 2.75 | 3571 | 4.01 | 0.36 | -0.20 | 4.01 | 3.75 |
| QTC | 21-Aug-29 | 3.25 | 7535 | 4.00 | 0.35 | -0.20 | 4.00 | 3.75 |
| TCV | 22-Oct-29 | 2.50 | 9837 | 4.07 | 0.34 | -0.23 | 4.07 | 3.81 |
| TASCORP | 24-Jan-30 | 2.00 | 974 | 4.18 | 0.33 | -0.25 | 4.18 | 3.94 |
| NSWTC | 20-Feb-30 | 3.00 | 10441 | 4.10 | 0.36 | -0.19 | 4.10 | 3.83 |
| NTTC | 21-May-30 | 2.00 | 750 | 4.22 | 0.35 | -0.18 | 4.22 | 3.96 |
| SAFA | 24-May-30 | 2.75 | 3865 | 4.13 | 0.33 | -0.21 | 4.13 | 3.89 |
| QTC | 21-Aug-30 | 3.50 | 8587 | 4.10 | 0.34 | -0.20 | 4.10 | 3.85 |
| TCV | 20-Nov-30 | 5.25 | 8122 | 4.19 | 0.31 | -0.23 | 4.19 | 3.96 |
| NSWTC | 20-Mar-31 | 2.00 | 10103 | 4.23 | 0.33 | -0.18 | 4.23 | 3.98 |
| NTTC | 21-Apr-31 | 5.25 | 750 | 4.38 | 0.33 | -0.17 | 4.38 | 4.13 |
| QTC | 21-Aug-31 | 1.75 | 7357 | 4.22 | 0.32 | -0.20 | 4.22 | 3.98 |
| ACTTREAS | 23-Oct-31 | 5.25 | 1000 | 4.33 | 0.35 | -0.17 | 4.33 | 4.07 |
| SAFA | 24-May-32 | 5.25 | 3310 | 4.36 | 0.30 | -0.18 | 4.36 | 4.15 |
| TCV | 20-Dec-32 | 4.25 | 9108 | 4.41 | 0.31 | -0.20 | 4.41 | 4.19 |
| NSWTC | 8-Mar-33 | 5.25 | 8835 | 4.48 | 0.33 | -0.14 | 4.48 | 4.23 |
| QTC | 14-Mar-33 | 6.50 | 721 | 4.34 | 0.31 | -0.14 | 4.34 | 4.11 |
| QTC | 20-Jul-34 | 1.75 | 4885 | 4.54 | 0.31 | -0.16 | 4.54 | 4.32 |
| WATC | 24-Oct-34 | 2.00 | 1193 | 4.50 | 0.31 | -0.16 | 4.50 | 4.26 |
| QTC | 16-Apr-40 | 2.25 | 1482 | 4.93 | 0.32 | -0.09 | 4.93 | 4.66 |
| NSWTC | 7-May-41 | 2.25 | 2323 | 5.04 | 0.32 | -0.01 | 5.04 | 4.78 |
| QTC | 20-Nov-41 | 2.25 | 2181 | 4.97 | 0.31 | -0.06 | 4.97 | 4.71 |