Aust. Treasury note tender not “a default”

24 October 2019

 

“Today’s result is in no way a default by the Commonwealth of Australia.” The AOFM, as the Commonwealth Government’s financing arm, regularly sell bonds to finance the Government’s budget deficit and to refinance maturing bonds which were used to finance past deficits. Therefore, it sells a lot of bonds, usually on a weekly basis. In the past, YieldReport has made references to the AOFM’s reputation for knowing the state of...

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