ASIA-PACIFIC

摘要

The australian office of financial management raised just over A$160m from last Wedensday's first auction of its remaining holdings of residential mortgage-backed securities, estimated at around A$4.6bn in amortised face-value terms. The amount is well below the A$300m-$500m the AOFM expected to raise through these monthly sales, despite receiving bids of more than A$1.3bn for the three note issues on offer. The outcome suggests that the AOFM is keen to create greater price tension for subsequent auctions rather than be seen to be accepting any level to offload its RMBS holdings, according to one syndication manager.