The Australian mortgage-backed market appears to be heading for another strong year, having finished the first quarter with more than A$10 billion transacted.

The figure was nearly twice the A$6 billion completed in the corresponding period last year and, on an annualized basis, comfortably ahead of the A$28 billion achieved during the whole of 2001. Roughly three-quarters of the total volume, or A$7.5 billion, was sold into the global markets which, as usual, absorbed the biggest deals that Australian securitizers had to offer.

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