Positive global risk tone should sustain Kangaroo issuance revival [UPDATED]

Positive sentiment in global markets enabled an early-year flurry of Kangaroo issuance, which saw A$2.225 billion (US$2.35 billion) price in six deals in the first full week of the year. Diverse demand pools are likely to facilitate issuance of both mid- and long-tenor deals, from a greater range of issuers. However, with rare exceptions Australian investors continue to play no more than a complementary role in supranational, sovereign and agency (SSA) Kangaroos.