NZDMO tantalisingly close to inflation issuance following budget
Following New Zealand's national budget on May 20 the New Zealand Debt Management Office (NZDMO) reiterated its interest in returning to the inflation market and its belief that demand for its linker product would be sufficient to make such a return. But it has yet to firmly commit to the market, saying only that it is "actively considering" issuing inflation product.Investec's debut Australian ABS is medical receivables trade
Investec Bank (Australia) has launched its first Australian asset-backed securities (ABS) deal, at a size of A$240.7 million (US$211.1 million). The motor vehicle and equipment receivables transaction, Impala Trust Series 2010-1, will offer class A and class B notes to the market with the remaining four tranches of notes being held by the issuer.AOFM says demand remains strong for Australia as 2010/11 task announced
Global demand for Australian Commonwealth government securities (CGS) has not been weakened by the developed market sovereign debt malaise according to the Australian Office of Financial Management (AOFM). With the domestic economy continuing to outperform, the debt management agency says it is confident it can complete its stable funding task for the 2010/11 financial year.Risk aversion the order of the day even as Australian position strengthens
Bullish economic projections released by the Australian government at the same time as the federal budget for 2010/11 have not yet been enough to spur a return to local primary market issuance. And while some market sources say new deals may be forthcoming in the near future as short-term volatility settles down, most also believe that risk appetite has been set back several steps by sovereign concerns.