AOFM unlikely to buy foreign currency RMBS tranches
The Australian Office of Financial Management (AOFM) has rebuffed suggestions that it should extend its programme of buying residential mortgage-backed securities (RMBS) from local issuers denominated in foreign currencies. And other securitisation market users also cast doubt on claims that offshore demand for Australian product could be kick-started by such a move from the government.
New Zealand leads deal flow as Australia flatters to deceive
For much of the week, primary markets in Australia and New Zealand offered an eerie echo of the respective nations' performance in the World Cup so far. While a powerful European-based threat has been enough to cow Australia on and off the field, New Zealand refused to submit to the European menace and fought back with a major score of its own.EIB to increase 2019 Kangaroo
European Investment Bank (AAA/Aaa/AAA) has mandated ANZ, J.P. Morgan and UBS Investment Bank to lead manage what will be the third Kangaroo transaction in the past week. EIB will increase its August 2019 Kangaroo line, which currently has A$2.6 billion (US$2.2 billion) outstanding, "in the near future subject to market conditions," the leads say.