On 10 July, Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) revealed plans to undertake two syndicated transactions in the month of July. In the week beginning 13 July, the AOFM intends to issue a new 21 November 2025 line, with joint lead managers to be finalised in the afternoon on 10 July. In the week beginning 27 July, it expects to launch its new June 2051 line, with lead managers to be announced in the preceding week.
The Reserve Bank of New Zealand (RBNZ) has embarked on an asset purchasing programme as part of its regular open market operations in support of monetary policy goals. KangaNews will provide subscribers with easy access to asset purchase data, which will be updated as information is made publicly available by the RBNZ.
The Australian Office of Financial Management (AOFM) revealed on 8 July that the pause on inviting investment proposals for its Australian Business Securitisation Fund (ABSF) will remain in place for the time being. It says the fund was designed “as primarily an exercise in market development” but the process of achieving this development is on hiatus and therefore the AOFM will not progress with further ABSF investments.
Increased issuance from the AOFM – including targeting maturities of 3-5 and 10-12 years – and the Reserve Bank of Australia (RBA)’s intervention in the Australian sovereign bond market have accelerated Australian Securities Exchange (ASX) thinking about a new contract in its bond futures suite. The exchange is planning to introduce a new five-year contract by the end of the year.