Summary: Semi-government bond spreads about 2bps wider on average.
Semi-government spreads finished the week about 2bps wider on average as semi-government yields slightly lagged the falls of their Commonwealth counterparts. The majority of spreads in the sample varied within or quite close to a range from -2bps to +4bps and any exceptions were restricted to a few semis which mature shortly and a couple with maturities in early 2024.
| ISSUER | MATURITY | COUPON (%) | ISSUE SIZE | WEEK HIGH | WEEK LOW | CLOSING YIELD | Δ WEEK | Δ MONTH |
|---|---|---|---|---|---|---|---|---|
| QTC | 21-Jul-22 | 6.00 | 7,764 | 0.72 | 0.67 | 0.72 | 0.05 | 0.32 |
| SAFA | 22-Sep-22 | 1.50 | 2,062 | 1.17 | 1.07 | 1.11 | -0.06 | 0.46 |
| TCV | 17-Oct-22 | 6.00 | 3,730 | 1.31 | 1.28 | 1.31 | 0.02 | 0.53 |
| WATC | 20-Oct-22 | 2.75 | 3,001 | 1.26 | 1.20 | 1.22 | -0.03 | 0.50 |
| NTTC | 21-Nov-22 | 2.50 | 600 | 1.31 | 1.25 | 1.31 | 0.05 | 0.30 |
| NSWTC | 20-Apr-23 | 4.00 | 4,011 | 1.92 | 1.89 | 1.90 | 0.00 | 0.33 |
| NSWTC | 1-May-23 | 6.00 | 339 | 1.99 | 1.96 | 1.99 | 0.02 | 0.37 |
| QTC | 21-Jul-23 | 4.25 | 8,744 | 2.28 | 2.24 | 2.27 | -0.01 | 0.25 |
| WATC | 16-Oct-23 | 6.00 | 4,376 | 2.51 | 2.45 | 2.47 | -0.03 | 0.26 |
| SAFA | 20-Nov-23 | 4.25 | 1,520 | 2.60 | 2.54 | 2.56 | -0.03 | 0.28 |
| TCV | 21-Nov-23 | 1.00 | 1,122 | 2.58 | 2.51 | 2.56 | -0.02 | 0.24 |
| NSWTC | 8-Feb-24 | 5.25 | 4,692 | 2.57 | 2.48 | 2.54 | 0.00 | 0.14 |
| NTTC | 15-Mar-24 | 6.00 | 650 | 2.89 | 2.81 | 2.87 | -0.01 | 0.18 |
| TASCORP | 11-Jun-24 | 4.00 | 1,151 | 3.03 | 2.92 | 2.94 | -0.05 | 0.12 |
| QTC | 22-Jul-24 | 5.75 | 8,249 | 2.80 | 2.70 | 2.72 | -0.06 | 0.05 |
| WATC | 23-Jul-24 | 2.50 | 5,089 | 2.81 | 2.73 | 2.75 | -0.04 | 0.09 |
| SAFA | 15-Aug-24 | 2.25 | 3,128 | 2.88 | 2.77 | 2.79 | -0.06 | 0.10 |
| NSWTC | 20-Aug-24 | 5.00 | 4,324 | 2.76 | 2.67 | 2.69 | -0.06 | 0.09 |
| TCV | 17-Dec-24 | 5.50 | 6,508 | 2.93 | 2.84 | 2.87 | -0.04 | 0.10 |
| NSWTC | 20-Mar-25 | 5.25 | 2,100 | 3.01 | 2.91 | 2.94 | -0.04 | 0.10 |
| SAFA | 16-Apr-25 | 2.75 | 1,250 | 3.08 | 2.98 | 3.00 | -0.05 | 0.07 |
| ACTTREAS | 22-May-25 | 5.25 | 1,000 | 3.01 | 2.91 | 2.94 | -0.04 | 0.06 |
| QTC | 21-Jul-25 | 4.75 | 8,581 | 3.10 | 3.00 | 3.01 | -0.06 | 0.05 |
| WATC | 23-Jul-25 | 5.00 | 5,483 | 3.09 | 2.99 | 3.01 | -0.05 | 0.06 |
| TASCORP | 19-Feb-26 | 3.25 | 1,094 | 3.30 | 3.21 | 3.22 | -0.06 | 0.04 |
| NTTC | 15-Mar-26 | 6.00 | 650 | 3.20 | 3.11 | 3.14 | -0.03 | 0.06 |
| NSWTC | 20-May-26 | 4.00 | 5,323 | 3.19 | 3.10 | 3.12 | -0.04 | 0.04 |
| SAFA | 20-Jul-26 | 3.00 | 3,540 | 3.25 | 3.16 | 3.17 | -0.05 | 0.04 |
| QTC | 21-Jul-26 | 3.25 | 8,610 | 3.24 | 3.14 | 3.15 | -0.05 | 0.04 |
| TCV | 17-Nov-26 | 5.50 | 7,822 | 3.26 | 3.16 | 3.18 | -0.05 | 0.05 |
| NTTC | 21-Apr-27 | 5.50 | 600 | 3.37 | 3.27 | 3.31 | -0.03 | 0.05 |
| NSWTC | 20-May-27 | 3.00 | 8,861 | 3.31 | 3.21 | 3.23 | -0.05 | 0.04 |
| QTC | 20-Aug-27 | 2.75 | 8,794 | 3.33 | 3.24 | 3.26 | -0.04 | 0.05 |
| SAFA | 20-Sep-27 | 3.00 | 1,500 | 3.36 | 3.27 | 3.29 | -0.05 | 0.06 |
| WATC | 21-Oct-27 | 3.00 | 3,566 | 3.34 | 3.25 | 3.27 | -0.04 | 0.06 |
| NSWTC | 20-Mar-28 | 3.00 | 9,328 | 3.40 | 3.29 | 3.32 | -0.06 | 0.06 |
| SAFA | 24-May-28 | 3.00 | 3,040 | 3.45 | 3.34 | 3.36 | -0.07 | 0.07 |
| QTC | 21-Jul-28 | 3.25 | 8,520 | 3.43 | 3.32 | 3.34 | -0.06 | 0.06 |
| TCV | 20-Oct-28 | 3.00 | 8,377 | 3.48 | 3.37 | 3.39 | -0.06 | 0.07 |
| NSWTC | 20-Apr-29 | 3.00 | 9,153 | 3.50 | 3.40 | 3.42 | -0.07 | 0.09 |
| NTTC | 21-May-29 | 2.00 | 600 | 3.63 | 3.51 | 3.55 | -0.05 | 0.09 |
| ACTTREAS | 22-May-29 | 5.25 | 900 | 3.60 | 3.48 | 3.52 | -0.05 | 0.10 |
| WATC | 24-Jul-29 | 2.75 | 3,316 | 3.52 | 3.41 | 3.45 | -0.05 | 0.11 |
| QTC | 21-Aug-29 | 3.25 | 7,535 | 3.53 | 3.41 | 3.46 | -0.05 | 0.11 |
| TCV | 22-Oct-29 | 2.50 | 8,577 | 3.57 | 3.46 | 3.50 | -0.04 | 0.13 |
| NSWTC | 20-Feb-30 | 3.00 | 10,316 | 3.57 | 3.46 | 3.48 | -0.07 | 0.10 |
| NTTC | 21-May-30 | 2.00 | 750 | 3.72 | 3.60 | 3.65 | -0.05 | 0.14 |
| SAFA | 24-May-30 | 2.75 | 2,815 | 3.62 | 3.51 | 3.56 | -0.05 | 0.14 |
| QTC | 21-Aug-30 | 3.50 | 8,387 | 3.59 | 3.48 | 3.50 | -0.07 | 0.11 |
| TCV | 20-Nov-30 | 5.25 | 6,799 | 3.65 | 3.55 | 3.60 | -0.03 | 0.15 |
| NSWTC | 20-Mar-31 | 2.00 | 8,812 | 3.66 | 3.54 | 3.59 | -0.06 | 0.14 |
| NTTC | 21-Apr-31 | 5.25 | 750 | 3.86 | 3.73 | 3.78 | -0.06 | 0.12 |
| QTC | 21-Aug-31 | 1.75 | 7,257 | 3.69 | 3.57 | 3.62 | -0.06 | 0.16 |
| ACTTREAS | 23-Oct-31 | 5.25 | 1,000 | 3.77 | 3.64 | 3.71 | -0.04 | 0.15 |
| SAFA | 24-May-32 | 5.25 | 2,560 | 3.76 | 3.64 | 3.69 | -0.05 | 0.16 |
| TCV | 20-Dec-32 | 4.25 | 6,305 | 3.77 | 3.64 | 3.67 | -0.08 | 0.13 |
| NSWTC | 8-Mar-33 | 5.25 | 4,167 | 3.79 | 3.67 | 3.73 | -0.05 | 0.16 |
| QTC | 14-Mar-33 | 6.50 | 738 | 3.74 | 3.63 | 3.65 | -0.08 | 0.14 |
| QTC | 20-Jul-34 | 1.75 | 4,330 | 3.92 | 3.80 | 3.84 | -0.06 | 0.14 |
| WATC | 24-Oct-34 | 2.00 | 1,113 | 3.88 | 3.75 | 3.80 | -0.06 | 0.14 |
| QTC | 16-Apr-40 | 2.25 | 1,882 | 4.11 | 3.95 | 4.01 | -0.10 | 0.09 |
| NSWTC | 7-May-41 | 2.25 | 2,293 | 4.19 | 4.04 | 4.10 | -0.09 | 0.10 |
| QTC | 20-Nov-41 | 2.25 | 1,781 | 4.16 | 4.01 | 4.07 | -0.09 | 0.09 |