RBA taps into the semi-government bond market
This was already announced earlier here. The split is A$530 million of New South Wales notes and A$370 million of Victoria notes.
As Australia begins to impose new restrictions to counter the virus outbreak, it will start to have a negative impact on state government revenues so this is mainly to help with calming the volatility in the semi-government bond market.
The RBA will also offer $10 billion in dollar repo operations tomorrow, in order to help address funding pressures related to the greenback - just something to take note of.
Update (0428): RBA purchases another $A307 million of Queensland notes and $593 million of Western Australia notes.
