New South Wales Says It’s Able to Stay Away From Bond Markets Through May

New South Wales, Australia’s second- biggest state borrower, can pay out a A$6 billion ($6.2 billion) security maturing in May from current resources and is able to avoid returning to the bond market for as long as six months, Treasurer Mike Baird said.

The recent increase in state government bond yields relative to federal government debt is not specific to New South Wales and reflects “an inability for the financial markets intermediaries to warehouse risk as they normally would,” Baird said in an e-mailed response to questions.

To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net

To contact the editor responsible for this story: Garfield Reynolds at greynolds1@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.