Trading margins of ASX-listed notes and bonds generally increased this week, with one fall and six rsies. Australian Unity Bonds (ASX code: AYUHB, +86bps) reversed all of the previous week’s fall, plus a bit more.
*Not yet trading on ASX
The current 3-month BBSW rate is around 0.85%. Add the trading margin from the above chart or from the tables to 0.85% for an estimate of the 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** |
|---|---|---|---|---|---|---|---|---|
| Australian Unity | AYUHB | Unsub. Bond | 15-Dec-20 | 2.80% | 2.73% | 0.86% | 100.08 | 3.64% |
| Crown | CWNHB | Sub Note | 23-Jul-21 | 4.00% | 3.08% | 0.11% | 102.00 | 4.76% |
| Bentham IMF | IMFHA | Bond | 31-Jan-22 | 4.20% | 3.24% | 0.07% | 102.20 | 4.93% |
| Nat Aust Bank | NABPE | Sub Note T2 | 20-Jun-23 | 2.20% | 1.81% | -0.02% | 101.67 | 3.00% |
| Peet | PPCHB | Bond | 5-Oct-22 | 3.65% | 3.02% | 0.16% | 104.55 | 5.25% |
| Qube Holdings | QUBHA | Sub Note | 5-Oct-23 | 3.90% | 1.97% | 0.05% | 107.00 | 4.43% |
| Villa World | VLWHA | Snr. Bond | 21-Apr-22 | 4.75% | 4.85% | 0.22% | 99.80 | 5.59% |
** Clean running yield.