Trading margins of most of the few ASX-listed notes and bonds remaining were fairly stable with one exception. Excluding short-dated securities, the largest change came from Australian Unity Bonds (ASX code: AYUHB, -65bps).
The current 3 month BBSW rate is around 2.05%. Add the trading margin from the above chart or from the tables to 2.05% for a gross return per annum in the absence of BBSW rate changes. The gross return may contain imputation credits. BBSW typically is around 15bps (average since 1990) more than the RBA rate.
ASX-LISTED FLOATING RATE NOTES
| COMPANY | CODE | BOND TYPE | MATURITY | ISSUE MARGIN | TRADING MARGIN | Δ WEEK | WEEK CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| AGL | AGLHA | Sub Note | 8-Jun-19 | 3.80% | 1.40% | 0.97% | 101.70 | 5.82% |
| Australian Unity | AYUHB | Unsub. Bond | 15-Dec-20 | 2.80% | 0.72% | -0.65% | 104.00 | 4.69% |
| Crown | CWNHB | Sub Note | 23-Jul-21 | 4.00% | 3.04% | 0.09% | 103.10 | 5.93% |
| Bentham IMF | IMFHA | Bond | 31-Jan-22 | 4.20% | 3.57% | n/a | 102.25 | 6.15% |
| Nat Aust Bank | NABPE | Sub Note T2 | 20-Jun-23 | 2.20% | 1.61% | -0.06% | 103.00 | 4.16% |
| Peet | PPCHB | Bond | 5-Oct-22 | 3.65% | 3.59% | 0.04% | 104.00 | 6.49% |
| Qube Holdings | QUBHA | Sub Note | 5-Oct-23 | 3.90% | 1.99% | -0.06% | 108.09 | 5.54% |
| Tatts | TTSHA | Snr. Bond | 5-Jul-19 | 3.10% | 1.65% | 0.84% | 101.00 | 5.13% |
| Villa World | VLWHA | Snr. Bond | 21-Apr-22 | 4.75% | 3.46% | 0.04% | 104.00 | 6.57% |
** Clean running yield.