AOFM launches June 2039 syndicated tap

On 10 July, the Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) launched a syndicated tap of its June 2039 benchmark bond. Initial price guidance on the forthcoming tap issue, which will be of “modest size”, is 64-66 basis points area over the implied bid yield for the primary 10-year Treasury bond futures contract.