Bonds

[Pages:3]Bonds:

Monthly Update: June 2019

Month:

Jun-19

Trading days:

19

Australian Yield Curve

3.00 203

28-Jun-19

2.50

31-May-19

183

30-Jun-18

30-Jun-16 2.00

163

143 1.50

123 1.00

103

0.50 83

Period ending: Friday, 28 June 2019 S&P Indices - rebased to 100

S&P/ASX 200 Accumulation S&P/ASX Australian Fixed Interest S&P/ASX Government Bond

% CASH BBSW1M BBSW2M BBSW3M BBSW4M BBSW5M BBSW6M GOVT3Y GOVT5Y GOVT10Y Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18

Coupon

10.50% 8.50% 6.50% 4.50% 2.50% 0.50% -1.50%

Dec-12 Aug-14 Apr-16 Dec-17 Jul-19 Mar-21 Nov-22 Jul-24 Feb-26 Oct-27 Jun-29 Jan-31 Sep-32 May-34 Dec-35 Aug-37 Apr-39

Market Comparison

Corporate Bond - Fixed Rate

URFHHBBSHB

Corporate Bond - Floating Rate Government Bond - Fixed Rate

AMPHA AYUHB

GSBA18 GSBAEY1U9GHSBAG20 IMFHA

GSBC1A7NZHA GSIU18

GSBG23 GSBM22

Government Bond - Inflation Linked

GSBG37

GSBK16 GSBM17 GSBS18GSBS19 URFHAGSIO20

GSBU20 GSBGI2S1IC22

GGSSIBQGG22S54BGG2S5BGGS2B6GG2S7BUG2S7BGGSI3Q330 GSBK35

GSBK39 GSIO35

3.75%

3.25%

Maturity / Conversion / Reset Date

Snapshot by Category

Segment

Corporate Bonds - Fixed Rate Corporate Bonds - Floating Rate Australian Government Bonds TOTAL

Number listed

4 6 32 42

Market Cap $b

0.4 0.6 621.6 622.72

Trades Total (#)

400 354 361 1,115

Trades per day (#)

21 19 19 59

Volume (#)

71,492 65,623 90,552 227,667

Recent Listings

ASX

Entity

Code Size ($m)

Type

Australian Government TreasuGrySBBKo3n1ds 5800 Government Bonds - Fixed Rate

Listing Date

03-Jun-2019

Australian Government TreasuGrySICn5d0exed B3o7n5d0s Government Bonds - Inflation Linked 26-Sep-2018

Australian Government TreasuGrySBIo4n1ds 3600 Government Bonds - Fixed Rate 30-Jul-2018

Axsesstoday Limited

AXLHA

55 Corporate Bonds - Floating Rate 23-Jul-2018

Australian Government TreasuGrySBIo3n0ds 19,600.0 Government Bonds - Fixed Rate 14-Jun-2018

Australian Government TreasuGrSyBBUo2n9ds 22,600.0 Government Bonds - Fixed Rate 29-Jan-2018

Australian Government TreasuGrSyBBUo2n2ds 16,500.0 Government Bonds - Fixed Rate 16-Oct-2017

Australian Government TreasuGrySIUnd27exed B4,o6n0d0s.0 Government Bonds - Inflation Linked 01-Sep-2017

*BBSW = Bank Bill Swap Rate

Issue Price

$100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Maturity / Conv / Reset

21-Jun-2031 21-Feb-2050 21-May-2041 20-Jul-2023 21-May-2030 21-Nov-2029 21-Nov-2022 21-Nov-2027

Interest Rate / Dividend

1.50% 1.00% 2.75% 4.90% 2.50% 2.75% 2.25% 0.75%

Value $m

7.2 6.8 11.1 25.0

Distribution Payable

Semi-Annual Quarterly

Semi-Annual n/a

Semi-Annual Semi-Annual Semi-Annual

Quarterly

Last Price

$102.18 $121.43 $116.55 $100.00 $110.52 $113.24 $104.47 $111.51

Bonds:

Monthly Update: June 2019

Market Capitalisation Trends

Government Bonds

Market Cap ($b) Number listed (actual) Month trades Month value ($m)

Jun-17 549.7

31 191 8.9

Jun-18 568.9

33 212 12.5

% change 3.5% 6.5% 11.0% 41.0%

Last 12 months

Jun-19

% change

621.6

9.3%

32

-3.0%

361

70.3%

11.1

-11.6%

Performance and Trading Activity Breakdown by Category

650.0 600.0 550.0 500.0 450.0 400.0 350.0 300.0 250.0

Billions ($) Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Corporate Bonds - Fixed Rate

Last 12 months

Market Cap ($b)

Jun-17 Jun-18

% change

Jun-19

% change

$1.0

0.6

0.5

-22.1%

0.4

-4.3%

Number listed (actual)

6

5

-16.7%

4

-20.0%

Month trades

273

235

-13.9%

400

70.2%

Month value ($m)

4.5

5.6

23.9%

7.2

27.7%

$0.0

Billions ($) Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Billions ($) Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Billions ($) Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19

Corporate Bonds - Floating Rate

Jun-17

Market Cap ($b)

3.5

Number listed (actual)

6

Month trades

1,903

Month value ($m)

49.8

Jun-18

1.8 7

1,054 37.9

% change

-48.0% 16.7% -44.6% -24.0%

Last 12 months

Jun-19

% change

17.5

0.6

-64.8%

15.5

13.5

6

-14.3%

11.5

354

-66.4%

9.5 7.5

6.8

-82.1%

5.5 3.5

1.5

Total Bonds

Market Cap ($b) Number listed (actual) Month trades Month value ($m)

Jun-17

553.8 43

2,367 63.2

Jun-18

571.2 45

1,501 56.0

% change

3.1% 4.7% -36.6% -11.4%

Last 12 months

Jun-19

% change

622.7

9.0%

42

-6.7%

1,115

-25.7%

25.0

-55.3%

$715.0 $615.0 $515.0 $415.0 $315.0 $215.0 $115.0

$15.0

Most Actively Traded Securities by Value ASX Code Security Type

PPCHB Corporate Bonds - Floating Rate URFHC Corporate Bonds - Fixed Rate AYUHB Corporate Bonds - Floating Rate

URFHB Corporate Bonds - Fixed Rate GSBG33 Government Bonds - Fixed Rate TOTAL Top 5

Value ($)

2,888,484 2,875,267 2,179,551

1,818,788 1,484,866 11,246,955.95

%Value

11.55% 11.50%

8.72%

7.27% 5.94% 44.97%

Volume

27,542 29,283 21,295

18,429 10,680 107,229

%Volume

12.10% 12.86%

9.35%

8.09% 4.69% 47.10%

Spotlight on Bonds: June 2019

1/01/2019

ASX Profiles

ASX Code

Issuer

Description

Government Bonds - Fixed Rate

GSBS19 GSBG20

Australian Government Treasury Bonds Australian Government Treasury Bonds

Treasury Bond 2.75% 21-10-19 Semi Treasury Bond 4.50% 15-04-20 Semi

GSBU20 GSBI21 GSBW21

Australian Government Treasury Bonds Australian Government Treasury Bonds Australian Government Treasury Bonds

Treasury Bond 1.75% 21-11-20 Semi Treasury Bond 5.75% 15-05-21 Semi Treasury Bond 2.00% 21-12-21 Semi

GSBM22 GSBU22

Australian Government Treasury Bonds Australian Government Treasury Bonds

Treasury Bond 5.75% 15-07-22 Semi Treasury Bond 2.25% 21-11-22 Semi

GSBG23 GSBG24

Australian Government Treasury Bonds Australian Government Treasury Bonds

Treasury Bond 5.50% 21-04-23 Semi Treasury Bond 2.75% 21-04-24 Semi

GSBG25 GSBG26

Australian Government Treasury Bonds Australian Government Treasury Bonds

Treasury Bond 3.25% 21-04-25 Semi Treasury Bond 4.25% 21-04-26 Semi

GSBG27 GSBU27 GSBI28

Australian Government Treasury Bonds Australian Government Treasury Bonds Australian Government Treasury Bonds

Treasury Bond 4.75% 21-04-27 Semi Treasury Bond 2.75% 21-11-27 Semi Treasury Bond 2.25% 21-05-28 Semi

GSBU28 GSBG29

Australian Government Treasury Bonds Australian Government Treasury Bonds

Treasury Bond 2.75% 21-11-28 Semi Treasury Bond 3.25% 21-04-29 Semi

GSBU29 GSBI30

Australian Government Treasury Bonds Australian Government Treasury Bonds

Treasury Bond 2.75% 21-11-29 Semi Treasury Bond 2.50% 21-05-30 Semi

GSBK31 GSBG33 GSBK35

Australian Government Treasury Bonds Australian Government Treasury Bonds Australian Government Treasury Bonds

Treasury Bond 1.50% 21-06-31 Semi Treasury Bond 4.50% 21-04-33 Semi Treasury Bond 2.75% 21-06-35 Semi

GSBG37 GSBK39

Australian Government Treasury Bonds Australian Government Treasury Bonds

Treasury Bond 3.75% 21-04-37 Semi Treasury Bond 3.25% 21-06-39 Semi

GSBI41

Australian Government Treasury Bonds

GSBE47

Australian Government Treasury Bonds

Government Bonds - Inflation Linked

Treasury Bond 2.75% 21-05-41 Semi Treasury Bond 3.00% 21-03-47 Semi

GSIO20

Australian Government Treasury Indexed BondTsreas Indexed Bond Cpi+4.00% 20-08-20 Qly

GSIC22 GSIQ25 GSIU27

Australian Government Treasury Indexed BondTsreas Indexed Bond Cpi+1.25% 21-02-22 Qly Australian Government Treasury Indexed BondTsreas Indexed Bond Cpi+3.00% 20-09-25 Qly Australian Government Treasury Indexed BondTsreas Indexed Bond Cpi+0.75% 21-11-27 Qly

GSIQ30 GSIO35

Australian Government Treasury Indexed BondTsreas Indexed Bond Cpi+2.50% 20-09-30 Qly Australian Government Treasury Indexed BondTsreas Indexed Bond Cpi+2.00% 21-08-35 Qly

GSIO40

Australian Government Treasury Indexed BondTsreas Indexed Bond Cpi+1.25% 21-08-40 Qly

GSIC50

Australian Government Treasury Indexed BondTsreas Indexed Bond Cpi+1.00% 21-02-50 Qly

Corporate Bonds - Fixed Rate

MVTHA PPCHA

Mercantile Investment Company Ltd Peet Limited

Bond 8.00% 10-07-21 Semi Sub Simple Bond 7.50% Semi 07-06-21

URFHB

US Masters Residential Property Fund

URFHC

US Masters Residential Property Fund

Corporate Bonds - Floating Rate

Bond 7.75% 24-12-2020 Qly Red T 12-18 Bond 7.75% 24-12-21 Qly Red T-12-19

AXLHA

Axsesstoday Limited

Simple Bond 3-Bbsw+4.90% 20-07-23

AYUHB IMFHA PPCHB

Australian Unity Limited IMF Bentham Limited Peet Limited

Simple Bond 3-Bbsw+2.80% 15-12-20 Bond 3-Bbsw+4.20% 22-12-22 Sec Step T-01-22 Simple Bond 3-Bbsw+4.65% 05-10-22

TTSHA VLWHA

Tatts Group Limited Villa World Limited

Bond 3-Bbsw+ 3.10% 5-07-2019 Simple Bond 3-Bbsw+4.75% 21-04-22

* Australian Govenrment Treasury / Index Bonds are recorded at the valuation price

All values are as at Jun-19.

Martin Dinh

Senior Product Manager

+61 2 9227 0318 martin.dinh@.au

Detail

ASX Listed Maturity / Date Conv / Reset

Coupon

Payment Frequency

Activity

Announced Ex Announced Mkt Cap ($m)# Date Payment Date

Traded Value ($) Traded Volume

Number of Trades

Prices

Monthly Liquidity %

Last *

Year High

Returns

Year Low

1 Month 1 Year Price

Price Return

Return

3 Year Price Return

5 Year Price Return

24-Jul-14 21-May-13 14-Apr-15 21-May-13 30-Jan-17 21-May-13 16-Oct-17 21-May-13 21-May-13 30-May-13 18-Mar-14 21-May-13 28-Jan-16 19-May-16 02-Mar-17 21-May-13 29-Jan-18 14-Jun-18 03-Jun-19 22-Nov-13 30-Mar-15 21-Oct-14 20-Oct-15

30-Jul-18 19-Oct-16

21-Oct-19 15-Apr-20 21-Nov-20 15-May-21 21-Dec-21 15-Jul-22 21-Nov-22 21-Apr-23 21-Apr-24 21-Apr-25 21-Apr-26 21-Apr-27 21-Nov-27 21-May-28 21-Nov-28 21-Apr-29 21-Nov-29 21-May-30 21-Jun-31 21-Apr-33 21-Jun-35 21-Apr-37 21-Jun-39 21-May-41 21-Mar-47

21-May-13 21-May-13 21-May-13 01-Sep-17 21-May-13 01-Oct-13 18-Aug-15 26-Sep-18

20-Aug-20 21-Feb-22 20-Sep-25 21-Nov-27 20-Sep-30 21-Aug-35 21-Aug-40 21-Feb-50

30-Jun-16 08-Jun-16 27-Oct-15 23-Feb-17

10-Jul-21 07-Jun-21 24-Dec-20 24-Dec-21

23-Jul-18 16-Dec-15 30-Apr-14 10-Jul-17 02-Jul-12 24-Apr-17

20-Jul-23 15-Dec-20 22-Dec-22 05-Oct-22 05-Jul-19 21-Apr-22

2.75% 4.50% 1.75% 5.75% 2.00% 5.75% 2.25% 5.50% 2.75% 3.25% 4.25% 4.75% 2.75% 2.25% 2.75% 3.25% 2.75% 2.50% 1.50% 4.50% 2.75% 3.75% 3.25% 2.75% 3.00%

Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual Semi-Annual

4.00% 1.25% 3.00% 3.00% 2.50% 2.00% 1.25% 1.25%

Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly Quarterly

8.00% 1.00% 7.75% 7.75%

Semi-Annual Semi-Annual

Quarterly Quarterly

6.67% 4.49% 5.41% 6.38% 4.83% 6.44%

n/a Quarterly Quarterly

n/a Quarterly Quarterly

10-Oct-19 04-Oct-19 12-Nov-19 06-Nov-19 12-Dec-19 04-Jul-19 12-Nov-19 10-Oct-19 10-Oct-19 10-Oct-19 10-Oct-19 10-Oct-19 12-Nov-19 12-Nov-19 12-Nov-19 10-Oct-19 12-Nov-19 12-Nov-19 12-Dec-19 10-Oct-19 12-Dec-19 10-Oct-19 12-Dec-19 12-Nov-19 12-Sep-19

09-Aug-19 12-Aug-19 11-Sep-19 12-Aug-19 11-Sep-19 12-Aug-19 12-Aug-19 12-Aug-19

04-Jul-19 27-Sep-19

10-Jul-19

21-Oct-19 $ 15,082.69 $ 15-Oct-19 $ 20,068.42 $ 21-Nov-19 $ 22,216.46 $ 15-Nov-19 $ 31,808.94 $ 23-Dec-19 $ 17,871.54 $ 15-Jul-19 $ 29,317.41 $ 21-Nov-19 $ 17,276.33 $ 21-Oct-19 $ 29,735.66 $ 21-Oct-19 $ 30,039.84 $ 21-Oct-19 $ 29,547.55 $ 21-Oct-19 $ 38,194.07 $ 21-Oct-19 $ 37,858.04 $ 21-Nov-19 $ 31,368.40 $ 21-Nov-19 $ 30,506.76 $ 21-Nov-19 $ 29,100.29 $ 21-Oct-19 $ 32,144.08 $ 21-Nov-19 $ 25,768.52 $ 21-Nov-19 $ 21,975.13 $ 23-Dec-19 $ 5,874.76 $ 21-Oct-19 $ 19,426.64 $ 23-Dec-19 $ 9,052.00 $ 21-Oct-19 $ 16,078.80 $ 23-Dec-19 $ 10,979.66 $ 21-Nov-19 $ 4,214.88 $ 23-Sep-19 $ 16,102.97 $

20-Aug-19 $ 3,740.68 $ 21-Aug-19 $ 7,692.06 $ 20-Sep-19 $ 11,252.57 $ 21-Aug-19 $ 5,098.64 $ 20-Sep-19 $ 7,456.03 $ 21-Aug-19 $ 5,745.12 $ 21-Aug-19 $ 4,567.86 $ 21-Aug-19 $ 4,476.00 $

$

22.98 $

$ 107.50 $

$

89.23 $

$ 173.22 $

$ 15-Jul-19 $ 08-Oct-19 $

$ $ 22-Jul-19 $

55.00 $ 258.00 $

78.01 $ 52.88 $ 194.29 $ 51.35 $

398,755.51 723,879.22 249,503.08 596,237.84

33,072.62 1,381,308.14

4,692.49 117,018.13 315,265.89 332,333.43

64,949.55 1,138,838.96

107,270.00 159,176.68 198,258.85 113,702.40 176,983.00 103,844.63 1,484,866.02

58,525.94 706,667.24 423,770.52 618,916.55 242,562.24

509,697.25 19,069.37

120,496.02 32,212.50

632,950.30 -

294,901.43 1,339,557.14 1,818,788.17 2,875,266.86

2,179,550.61

993,224.02 2,888,484.30

708,475.65 844,153.37

3,950 6,986 2,461 5,444

322 11,837

45 995 2,909 2,958 541 8,977 1,000 1,412 1,680 1,010 1,600 1,034 10,680 503 5,349 3,380 5,313 2,012

2,812 160 814 290

4,078 -

2,797 12,707 18,429 29,283

21,295

9,764 27,542

7,022 8,276

7

0.00%

33

0.00%

17

0.00%

30

0.00%

2

0.00%

46

0.00%

4

0.00%

10

0.00%

3

0.00%

21

0.00%

4

0.00%

18

0.00%

-

0.00%

1

0.00%

13

0.00%

14

0.00%

2

0.00%

2

0.00%

3

0.00%

22

0.01%

5

0.00%

21

0.00%

6

0.00%

6

0.01%

12

0.00%

8

0.01%

11

0.00%

20

0.00%

2

0.00%

18

0.01%

-

0.00%

-

0.00%

-

0.00%

19

1.28%

85

1.25%

73

2.04%

125

1.66%

-

0.00%

167

0.84%

92

1.27%

62

5.46%

33

0.36%

98

1.64%

101.01 103.65 101.50 109.62 102.71 117.27 104.71 118.00 108.84 113.21 121.25 127.47 112.03 108.18 113.67 119.05 114.02 112.12 101.29 139.76 116.80 133.99 126.20 117.08 123.87

181.48 119.44 148.20 110.84 155.57 145.45 128.67 119.36

103.00 107.50

98.55 98.98

100.00 103.20 102.65 105.75 101.20 102.70

102.40 106.14 101.73 112.08 102.74 117.40 104.59 118.76 108.54 113.35 121.35 127.66 109.58 107.27 113.89 119.31 114.80 110.78 102.18 140.33 118.19 134.29 126.37 118.47 125.04

184.58 119.57 148.79 111.51 156.17 144.75 128.51 121.43

107.30 109.00 101.00 101.99

101.25 104.50 103.00 105.90 103.60 106.00

100.53 102.81

99.38 108.66

99.71 113.16 100.26 113.80 102.19 104.40 111.82 115.84 101.50

96.01 100.78 104.79 101.24

99.10 100.38 118.50

97.01 109.72 102.86

94.07 95.80

180.72 116.03 140.58 101.57 140.61 127.15 109.25

96.22

100.00 102.00

96.75 97.00

99.90 100.10 100.00 100.40 100.22 100.10

0.19% 0.09% 0.36% 0.47% 0.67% 0.61% 0.60% 0.49% 1.06% 1.22% 2.08% 1.50% 2.24% 2.04% 1.89% 1.96% 4.47% 4.63%

n/a 2.70% 2.03% 3.67% 5.04% 4.21% 4.96%

0.22% 0.43% 0.07% 2.77% 0.74% 4.43% 9.31% 2.11%

-2.00% 0.61% -0.95% -0.92%

0.00% 0.88% 0.93% 2.67% 0.45% 1.88%

-0.40% -1.53% 1.77% -1.08% 3.02% 0.40% 4.87% 1.92% 5.78% 7.11% 7.27% 7.97% 10.47% 11.35% 11.49% 12.24% 13.68% 14.54%

n/a 15.10% 18.27% 19.10% 21.59%

n/a 26.73%

-1.45% 2.62% 4.96% 10.69% 9.05% 11.88% 18.79%

n/a

2.49% 2.38% -1.10% -1.27%

n/a -0.28% 0.34% 3.68% -0.98% -1.72%

-1.41% -7.30% 1.33% -7.89%

n/a -6.74%

n/a -5.19% 2.06% 1.98% 0.58% 0.84% 8.51%

n/a n/a 5.94% n/a n/a n/a 10.74% 12.88% 13.94% 14.15% n/a n/a

-3.85% 4.15% 2.27%

n/a 8.09% 11.88% 13.60%

n/a

2.49% 5.36% -4.32%

n/a

n/a -1.71% 4.74%

n/a -2.69%

n/a

n/a -3.18%

n/a -5.12%

n/a -0.19%

n/a 2.42% 16.50% 17.29% 17.05% 16.16%

n/a n/a n/a 27.45% n/a n/a n/a 31.22% n/a n/a n/a n/a n/a

-3.64% 11.41% 11.24%

n/a 25.31% 33.48%

n/a n/a

n/a n/a n/a n/a

n/a n/a -1.30% n/a -4.48% n/a

Past Performance is not a reliable indicator of future performance.

Information provided does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions. Although ASX Limited ABN 98 008 624 691 and its related bodies corporate ("ASX") has made every effort to ensure the accuracy of the information as at the date of publication, ASX does not give any warranty or representation as to the accuracy, reliability or completeness of the information. To the extent permitted by law, ASX and its employees, officers and contractors shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided or omitted or from any one acting or refraining to act in reliance on this information. ? Copyright 2018 ASX Operations Pty Limited ABN 42 004 523 782. All rights reserved 2019

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