Domestic issuance surges as Kangaroos and NZ drop off record pace

The Australian domestic bond market saw record issuance in the first quarter, with consistent volumes of more than A$5 billion (US$5.3 billion) pricing in each of the first three months of the year. By contrast, a sluggish March saw Kangaroo issuance fall away from the record volumes placed in January and February, while the New Zealand domestic market – although matching last year's deal flow – is also well short of its peak.