The Australian government has sold $500 million of November 21, 2018, Treasury indexed bonds.

The Australian Office of Financial Management (AOFM), which conducts bond auctions on behalf of the government, said the bonds were sold for a weighted average yield of 0.9530 per cent.

The sale attracted bids totalling $1.982 billion, giving a coverage ratio of 3.964.

The face value of the bonds is linked to the consumer price index, so the return is the inflation rate plus the yield.