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RBA Glossary definition for bid

bid – The price offered to purchase securities in the primary market. In relation to a tender, a bid also includes the volume willing to be bought at the price offered.

Search Results

The Yield and Market Function Effects of the Reserve Bank of Australia's Bond Purchases

24 May 2022 RDP 2022-02
Richard Finlay, Dmitry Titkov and Michelle Xiang
We also find that such purchases led to lower yields as and when they were implemented, and that they supported market function by lowering bid-offer spreads.
https://www.rba.gov.au/publications/rdp/2022/2022-02.html

Conclusion

24 May 2022 RDP 2022-02
Richard Finlay, Dmitry Titkov and Michelle Xiang
Yield target purchases led to wider bid-offer spreads and are likely to have contributed to some reduction in the functioning in the 3-year futures contract for a time. ... Purchases under the program were associated with a small widening in bid-offer
https://www.rba.gov.au/publications/rdp/2022/2022-02/conclusion.html

Effects on Market Functioning

24 May 2022 RDP 2022-02
Richard Finlay, Dmitry Titkov and Michelle Xiang
Figure 19: Bid-offer Spreads. Source: Yieldbroker. Figure 20: Yield Curve Fitting Errors. ... of bond holdings was associated with bid-offer spreads being 0.5 basis points wider.
https://www.rba.gov.au/publications/rdp/2022/2022-02/effects-on-market-functioning.html

The Yield and Market Function Effects of the Reserve Bank of Australia's Bond Purchases

24 May 2022 RDP 2022-02
Richard Finlay, Dmitry Titkov and Michelle Xiang
portfolio rebalancing – the accumulation of government bonds by the central bank bids up their price as other assets are only imperfect substitutes, removes interest rate risk from the market, reduces term
https://www.rba.gov.au/publications/rdp/2022/2022-02/full.html

Read me file

24 May 2022 RDP 2022-02
Richard Finlay, Dmitry Titkov and Michelle Xiang
Other data from Bloomberg are loaded by ‘load_tick_data.R’. Yieldbroker. Data from Yieldbroker on bid-offer spreads and turnover for government bonds are loaded by ‘load_yieldbroker_data.R’.
https://www.rba.gov.au/publications/rdp/2022/2022-02/read-me.html

How Bond Purchases Work, and the International Experience

24 May 2022 RDP 2022-02
Richard Finlay, Dmitry Titkov and Michelle Xiang
portfolio rebalancing – the accumulation of government bonds by the central bank bids up their price as other assets are only imperfect substitutes, removes interest rate risk from the market, reduces term
https://www.rba.gov.au/publications/rdp/2022/2022-02/how-bond-purchases-work-and-the-international-experience.html