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Monday, 19 July 2021
Jun/Jul 2021

Shifting sands change dynamics for Australia's government-sector issuers

KangaNews and Westpac Institutional Bank hosted their annual roundtable for Australia’s sovereign and semi-government issuers in June – via audioconference, as the discussion happened as many Australian states were re-entering lockdown following the latest outbreak of COVID-19. Despite the sting in the pandemic’s tail, issuers are confident about the resilience and functionality of their market as they enter new financial years.

Monday, 08 March 2021
Feb/Mar 2021 High-Grade Supplement

High-grade issuer profiles and perspectives 2021

Key data and information on 15 high-grade lenders active in Australia and New Zealand, including programme information, funding strategy, debt data and issuer insights. 

Monday, 08 March 2021
Feb/Mar 2021 High-Grade Supplement

No false moves

The Australian sovereign and semi-government bond market faced game-changing challenges in 2020. Greatly increased issuance requirements seem baked in for the foreseeable future, but those most responsible for distributing and trading the bonds appear relatively confident that – despite resumed volatility in late February – the market is set up well for the pandemic end game.

Monday, 08 March 2021
Feb/Mar 2021 High-Grade Supplement

Australian borrowers do the heavy lifting

At one stage in 2020 it seemed Australia’s government-sector borrowers might end up with funding requirements larger than the market’s ability to support them. By the time the sector’s biggest issuers came together at a KangaNews roundtable in early February 2021, however, tasks had mainly come under control and issuance was well ahead of the required run rate.

Friday, 26 February 2021

Pre-emptive rates sell off may be a phantom tantrum

Australian fund managers, strategists and traders remain sceptical of the apparent rationale behind a bond sell-off that has seen local long-end yield spike after creeping higher in previous months. The price move appears to reflect greater inflation expectations and an interest rate hike before the Reserve Bank Australia’s forecast of 2024, but there is some evidence that it is not being backed by substantial repositioning activity.

Wednesday, 24 February 2021

WATC launches new October 2030 line via syndication

Western Australian Treasury Corporation (WATC) (AA+/Aa1) launched a new October 2030, Australian dollar denominated, syndicated, benchmark transaction on 24 February. Indicative price guidance for the deal is 5-8 basis points area over the 10-year futures contract, equivalent to 19-22 basis points area over Australian Commonwealth government bond.

Friday, 19 February 2021

WATC preparing new October 2030 line via syndication

On 19 February, Western Australian Treasury Corporation (WATC) (AA+/Aa1) revealed plans for a new October 2030, syndicated, domestic, benchmark transaction. The deal is expected to launch in the week beginning 22 February, according to lead managers ANZ, BofA Securities, Deutsche Bank and National Australia Bank.