[10] Spreads at issuance are a little higher than they were at the start of the year, but do not stand out when taking a slightly longer perspective (Graph 9). And yields are at low levels, driven by the fall in BBSW rates.
Graph 9  Over the year to date, non-financial corporations have been issuing bonds to about the same extent as they have in recent years (Graph 10). After a period when markets were disrupted during the height of the market stresses in March, these firms have been able to issue bonds in good quantities and relatively favourable yields, which is welcome (Graph 11).