Activity was relatively quiet in the domestic market but was sufficient to take total issuance for July 2009 to almost A$13.6 billion - the largest monthly total yet. Until now March 2006 had seen the largest monthly volume of issuance, coming in at A$11.2 billion.And as with offshore issuance, domestic issuance for the year to date has reached A$58.5 billion, well ahead of last year's total issuance of A$53.3 billion. The record year for issuance in the market is 2006 with a total of A$62.3 billion, but rolling twelve month issuance currently stands at A$73.3 billion. This is a new record for this measure and points to 2009 being a record breaking year.The surprise issuer last week was an Australian government agency, Export Finance and Insurance Corporation (rated AAA), which raised a total of A$500 million for three years in two tranches: A$300 million fixed; and A$200 million floating. The issue was priced at 22 basis points over swap/bank bills. We have no record of EFIC previously issuing in the domestic market but Reuters reported that EFIC was returning after an absence of 16 years. However, EFIC is a frequent issuer in offshore markets, particularly in Japan, although usually in small volumes and with something other than plain vanilla structures.  European Investment Bank raised A$750 million for ten years at swap plus 55 bps and CGS+101.5 bps. This is the longest dated wholesale bond issue since Eurofima issued December 2018 bonds in March last year, although AMP Group Finance Services' retail bond issue in April has a final maturity of April 2019 but is callable in April 2014.Holcim Limited (BBB) launched its anticipated bond issue on Friday. Holcim is seeking a minimum of A$150 million for three years and is offering 350 bps over bank bill/swap. It should expect to be well oversubscribed. Pricing is due tomorrow.Reuters reported that Northern Territory (Aa1) added a further A$100 million to its recently opened July 2014 line to take outstandings to A$350 million. The bonds were said to have been placed with one investor at a spread of 17 bps to TCV's 2015 line.The Australian Office of Financial Management stuck with short-dated CGS issues last week and was rewarded with healthy oversubscription rates. AOFM sold A$700 million of June 2014 bonds on Wednesday, at a weighted average yield of 5.53 per cent, and received oversubscriptions of 3.4 times. On Friday, A$700 million of April 2012 bonds were sold at an average yield of 4.81 per cent and were oversubscribed 4.9 times.