Australia's Firms Sell Record Amount of Local Bonds This Year
Australia's Firms Sell Record Amount of Local Bonds This Year
(Bloomberg) -- Australian companies have sold a record amount of local currency bonds this year, as domestic borrowing costs rise at a slower pace than US yields and banks rush to replace cheap pandemic-era funding.
(彭博社)——澳大利亚公司今年出售了创纪录数量的当地货币债券,原因是国内借贷成本的增长速度低于美国收益率,而且银行急于取代疫情时期的廉价融资。
Borrowers raised A$73 billion so far in 2022, the most ever for the first nine months of a year, according to Bloomberg-compiled data going back to 1999. August sales were the strongest of any month on record, though the pace of activity slowed in September.
彭博社汇编的可追溯到1999年的数据显示,借款人到2022年迄今为止筹集了730亿澳元,这是今年前九个月以来筹集的最高水平。尽管9月份的活动步伐有所放缓,但8月份的销售额是有记录以来任何月份中最强劲的。
With inflation running at the highest since the early 1990s, Australia's central bank has raised its policy benchmark by 2.25 percentage points this year -- still less than the Federal Reserve's increases.
随着通货膨胀率达到20世纪90年代初以来的最高水平,澳大利亚央行今年已将其政策基准提高了2.25个百分点,仍低于美联储的涨幅。
In addition, lenders are looking to place the ultra-cheap money initiated by the central bank in response to the Covid-19 outbreak, which that starts rolling off in 2023.
此外,贷款机构希望将中央银行发起的超廉价资金用于应对Covid-19疫情,该疫情将于2023年开始。
If the spurt of deals continues, the tally for 2022 could exceed the A$82 billion sold in 2009, the current record for full-year issuance.
如果交易激增继续下去,2022年的总销售额可能会超过2009年的820亿澳元,这是目前的全年发行记录。
Offshore funding costs have been expensive "due to the widening in high-grade credit spreads" in dollars and euros this year, said Tim Pinchen, vice president at JPMorgan Chase & Co. The Australian dollar market "has been more attractive for the banks on a relative basis."
摩根大通副总裁蒂姆·平琴表示,今年 “由于美元和欧元的高等级信贷利差扩大”,离岸融资成本一直很昂贵。澳元市场 “相对而言,对银行的吸引力更大”。
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