Offshore investors look set to buy record volumes of Australian mortgage-backed securities this year, having already absorbed the equivalent of A$7 billion worth since January, or 75.8% of the record A$9.23 billion sold offshore during the whole of calendar 2000.

The rush to buy follows an intensive "buy Australian" marketing campaign in the U.S. sponsored by the Australian Securitization Forum, an umbrella group representing Australian securitizers and intermediaries. Favorable cross currency basis swap rates are helping, too.

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