Australian dollar
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The European Investment Bank tapped its February 2028 line for A$400m ($323.5m) on Thursday, despite strong headwinds in the Aussie dollar market. -
Kangaroo trades from KommuneKredit and Oesterreichische Kontrollbank (OeKB) suggest long end demand will hold pace in the Australian dollar market this week. This comes despite a spate of bad weather causing transport disruption in Tokyo, where many key investors in the market are based.
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There have been high levels of issuance in the long end of the Aussie dollar curve this week, with a trade from KfW on Wednesday taking advantage of an increase in demand.
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Bank Nederlandse Gemeenten has tapped its July 2028 Australian dollar bond, taking advantage of strong demand from Japanese investors in the long end of the Kangaroo curve.
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World Bank issued a rare benchmark Canadian dollar bond this week, raising C$1bn ($802m) with a sustainable development deal in a strong week for niche currency sales from SSA borrowers that also included several Australian and New Zealand dollar deals.
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Kommunalbanken is tapping its April 2023 Kangaroo line, the first time it has accessed the Aussie mid-curve since September 2017, amid what bankers said were strong conditions for the currency.
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With a new climate awareness bond from the European Investment Bank and the announcements of green taps from EIB and Rentenbank, it was a busy week of sustainable bond issuance in the Australian dollar market.
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It has been an active week for Australian dollars, with the Asian Development Bank and the Inter-American Development Bank both selling in the middle of the curve.
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Three issuers have been active in the Australian dollar market so far this week, including two borrowers targeting deals in socially responsible formats.
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Strong exchange rates and a flurry of taps in the long end paints a bright picture for the Australian dollar market next year — despite low growth data in the third quarter of 2017 for the Australian economy.
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A flurry of activity in the Australian dollar market this week may be at an end after a lower than expected third quarter Australian GDP print.
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Corporacion Andina de Fomento tapped its September 2027 Kangaroo line on Tuesday, the first increase since it opened the line in March.
