The ASX is actively exploring re-listing New Zealand government bond futures almost five years after withdrawing the product due to lack of liquidity. While participants believe New Zealand is more conducive to a futures product today, domestic dealers and investors remain cautious about the potential for an enduring and liquid offering.
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SAFA makes defensive pivot in market reopener
South Australian Government Financing Authority took a conservative approach to funding, opting for a defensive, short-dated floating-rate deal instead of a longer-dated transaction to reopen the Australian primary market on 14 April, after days of market inactivity. The transaction triggered a spree of new deal announcements, including from CPPIB Capital, which will return to the Kangaroo market to price an October 2028 bond on 16 April, and Australian Capital Territory, which is set to test investor appetite for duration with a new October 2035 line.