Search: CGS
RBA Glossary definition for CGS
CGS – Commonwealth Government Securities. Australian Government Securities were formerly referred to as Commonwealth Government Securities.
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Infrastructure Developments in the Market for Commonwealth Government Securities
19 Sep 2013
Bulletin
– September 2013
The market for Commonwealth Government securities (CGS) is a key financial market in Australia because, among other things, it provides a risk-free benchmark for the pricing of a wide range of fixed income securities. This article discusses aspects
https://www.rba.gov.au/publications/bulletin/2013/sep/6.html
Trading in Treasury Bond Futures Contracts and Bonds in Australia
18 Sep 2014
Bulletin
– September 2014
Treasury bond futures are a key financial product in Australia, with turnover in Treasury bond futures contracts significantly larger than turnover in the market for Commonwealth Government securities (CGS). Treasury bond futures contracts provide a
https://www.rba.gov.au/publications/bulletin/2014/sep/6.html
The Australian Semi-government Bond Market
10 Sep 2011
Bulletin
– September 2011
This compares with current domestic holdings of around 30 per cent of CGS outstanding. ... This has typically resulted in semi-government bonds trading at tight spreads to CGS (Graph 8).
https://www.rba.gov.au/publications/bulletin/2011/sep/6.html
Extracting Information from Financial Market Instruments
10 Mar 2012
Bulletin
– March 2012
with a significant liquidity premium relative to CGS so they are not considered here). ... In comparison, there are 18 CGS lines on issue with maturities spanning 2012 to 2027.
https://www.rba.gov.au/publications/bulletin/2012/mar/6.html
Box A: The RBA's Foreign Exchange Swaps
10 Feb 2008
SMP
– February 2008
sheet. By undertaking foreign exchange swaps, rather than always purchasing domestic securities, the Bank aimed to limit the distortions that its open market operations might otherwise have had on the CGS ... billion, compared with average daily turnover
https://www.rba.gov.au/publications/smp/2008/feb/box-a.html
The Repo Market in Australia
10 Dec 2010
Bulletin
– December 2010
Since its inception, the facility has been successful in limiting the incidence of fails within the CGS market. ... Long positions. Short positions. Net positions. CGS. 18.2. 8.9. 9.3. Semis.
https://www.rba.gov.au/publications/bulletin/2010/dec/4.html
Box E: Yields on Sovereign Debt
10 May 2012
SMP
– May 2012
The yield on 10-year Commonwealth Government securities (CGS), for example, is around its lowest level in more than 60 years. ... As at the end of 2011, 75 per cent of CGS were held by non-residents, up from 60 per cent five years earlier.
https://www.rba.gov.au/publications/smp/2012/may/box-e.html
The Separation of Debt Management and Monetary Policy
10 Nov 1993
Bulletin
– November 1993
the yields set by the authorities on CGS became important for monetary policy. ... monetary policy would push up short-term private interest rates, thus making CGS less attractive.
https://www.rba.gov.au/publications/bulletin/1993/nov/1.html
Domestic Financial Markets
10 Feb 2014
SMP
– February 2014
The spread between 10-year CGS and US Treasuries is little changed since the previous Statement. ... Relative to CGS, spreads on the major banks' bonds have remained broadly unchanged since the previous Statement.
https://www.rba.gov.au/publications/smp/2014/feb/dom-fin-mkts.html
Domestic Financial Markets
10 Aug 2014
SMP
– August 2014
Accordingly, the share of CGS held by non-residents remains around two-thirds of the outstanding stock (Graph 4.5). ... Spreads between securities issued by state governments (‘semis’) and CGS remain close to their historic lows (Graph 4.6).
https://www.rba.gov.au/publications/smp/2014/aug/dom-fin-mkts.html