Semi Government

Summary: Semi-government bond spreads unchanged on average.

Semi-government spreads finished the week unchanged on average as semi-government yields generally moved lower in line with their Commonwealth counterparts. The majority of spreads in the sample varied within or quite close to a range from -2bps to +3bps and any exceptions were restricted to a few semis which mature shortly.

ISSUER	MATURITY	COUPON (%)	ISSUE SIZE	WEEK HIGH	WEEK LOW	CLOSING YIELD	Δ WEEK	Δ MONTH
QTC	21-Jul-22	6.00	7,764	0.67	0.64	0.66	0.00	0.37
SAFA	22-Sep-22	1.50	2,062	1.22	1.17	1.17	-0.01	0.71
TCV	17-Oct-22	6.00	3,730	1.34	1.24	1.29	0.06	0.66
WATC	20-Oct-22	2.75	3,001	1.33	1.16	1.25	0.09	0.70
NTTC	21-Nov-22	2.50	600	1.34	1.26	1.26	-0.03	0.85
NSWTC	20-Apr-23	4.00	4,011	2.05	1.90	1.90	-0.05	0.66
NSWTC	1-May-23	6.00	339	2.10	1.97	1.97	-0.03	0.70
QTC	21-Jul-23	4.25	8,744	2.42	2.27	2.27	-0.03	0.66
WATC	16-Oct-23	6.00	4,376	2.63	2.51	2.51	-0.05	0.70
SAFA	20-Nov-23	4.25	1,520	2.73	2.59	2.59	-0.03	0.69
TCV	21-Nov-23	1.00	1,122	2.70	2.57	2.57	-0.03	0.66
NSWTC	8-Feb-24	5.25	4,692	2.65	2.54	2.54	-0.05	0.49
NTTC	15-Mar-24	6.00	650	3.00	2.88	2.88	-0.02	0.60
TASCORP	11-Jun-24	4.00	1,151	3.11	2.99	2.99	-0.04	0.54
QTC	22-Jul-24	5.75	8,249	2.90	2.78	2.78	-0.05	0.50
WATC	23-Jul-24	2.50	5,089	2.91	2.79	2.79	-0.05	0.52
SAFA	15-Aug-24	2.25	3,128	2.98	2.85	2.85	-0.06	0.55
NSWTC	20-Aug-24	5.00	4,324	2.87	2.75	2.75	-0.02	0.48
TCV	17-Dec-24	5.50	6,508	3.02	2.91	2.91	-0.02	0.52
NSWTC	20-Mar-25	5.25	2,100	3.08	2.98	2.98	-0.02	0.46
SAFA	16-Apr-25	2.75	1,250	3.15	3.05	3.05	-0.02	0.48
ACTTREAS	22-May-25	5.25	1,000	3.08	2.98	2.98	-0.02	0.42
QTC	21-Jul-25	4.75	8,581	3.17	3.07	3.07	-0.02	0.45
WATC	23-Jul-25	5.00	5,483	3.16	3.06	3.06	-0.02	0.45
TASCORP	19-Feb-26	3.25	1,094	3.39	3.28	3.28	-0.03	0.43
NTTC	15-Mar-26	6.00	650	3.28	3.17	3.17	-0.03	0.39
NSWTC	20-May-26	4.00	5,323	3.26	3.16	3.16	-0.02	0.43
SAFA	20-Jul-26	3.00	3,540	3.33	3.22	3.22	-0.03	0.43
QTC	21-Jul-26	3.25	8,610	3.31	3.20	3.20	-0.03	0.43
TCV	17-Nov-26	5.50	7,822	3.34	3.23	3.23	-0.03	0.43
NTTC	21-Apr-27	5.50	600	3.45	3.34	3.34	-0.04	0.37
NSWTC	20-May-27	3.00	8,861	3.39	3.28	3.28	-0.04	0.42
QTC	20-Aug-27	2.75	8,794	3.41	3.30	3.30	-0.04	0.42
SAFA	20-Sep-27	3.00	1,500	3.46	3.34	3.34	-0.04	0.42
WATC	21-Oct-27	3.00	3,566	3.43	3.31	3.31	-0.05	0.42
NSWTC	20-Mar-28	3.00	9,328	3.50	3.38	3.38	-0.05	0.40
SAFA	24-May-28	3.00	3,040	3.55	3.43	3.43	-0.05	0.42
QTC	21-Jul-28	3.25	8,520	3.53	3.41	3.41	-0.05	0.40
TCV	20-Oct-28	3.00	8,377	3.57	3.45	3.45	-0.06	0.41
NSWTC	20-Apr-29	3.00	9,153	3.61	3.49	3.49	-0.06	0.41
NTTC	21-May-29	2.00	600	3.73	3.60	3.60	-0.06	0.36
ACTTREAS	22-May-29	5.25	900	3.70	3.57	3.57	-0.06	0.38
WATC	24-Jul-29	2.75	3,316	3.63	3.51	3.51	-0.06	0.41
QTC	21-Aug-29	3.25	7,535	3.63	3.51	3.51	-0.06	0.42
TCV	22-Oct-29	2.50	8,577	3.68	3.54	3.54	-0.07	0.40
NSWTC	20-Feb-30	3.00	10,241	3.69	3.56	3.56	-0.07	0.39
NTTC	21-May-30	2.00	750	3.83	3.70	3.70	-0.08	0.38
SAFA	24-May-30	2.75	2,815	3.75	3.61	3.61	-0.08	0.40
QTC	21-Aug-30	3.50	8,387	3.71	3.57	3.57	-0.07	0.40
TCV	20-Nov-30	5.25	6,799	3.77	3.63	3.63	-0.08	0.38
NSWTC	20-Mar-31	2.00	8,762	3.79	3.65	3.65	-0.09	0.38
NTTC	21-Apr-31	5.25	750	3.98	3.84	3.84	-0.09	0.35
QTC	21-Aug-31	1.75	7,257	3.82	3.68	3.68	-0.08	0.41
ACTTREAS	23-Oct-31	5.25	1,000	3.89	3.75	3.75	-0.09	0.37
SAFA	24-May-32	5.25	2,560	3.89	3.74	3.74	-0.09	0.39
TCV	20-Dec-32	4.25	6,305	3.90	3.75	3.75	-0.09	0.39
NSWTC	8-Mar-33	5.25	3,967	3.92	3.78	3.78	-0.08	0.39
QTC	14-Mar-33	6.50	738	3.88	3.73	3.73	-0.08	0.41
QTC	20-Jul-34	1.75	4,330	4.05	3.91	3.91	-0.09	0.37
WATC	24-Oct-34	2.00	1,113	4.01	3.87	3.87	-0.09	0.37
QTC	16-Apr-40	2.25	1,882	4.24	4.12	4.12	-0.06	0.32
NSWTC	7-May-41	2.25	2,293	4.32	4.20	4.20	-0.06	0.34
QTC	20-Nov-41	2.25	1,781	4.29	4.17	4.17	-0.07	0.31