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AOFM to issue fewer Commonwealth bonds

While the banks have been putting up various arguments against APRA's new draft liquidity policy, one argument (regarding the availability of government bonds) would have got a minor boost with the Australian Office of Financial Management's announcement on Thursday of its revised plans for the issuance of Commonwealth government bonds over the remainder of this financial year. AOFM now expects to issue A$50 billion to A$52 billion of CGS for the year, down from the A$60 billion advised in May.The reduction in planned CGS issuance follows the release of the Commonwealth government's MYEFO statement earlier in the week.

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