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COPYRIGHT 2002 Asia Pulse Pty Ltd
SYDNEY, Dec 31 Asia Pulse - The Commonwealth bond market will spend 2003 in bouts of uncertainty as the federal government considers whether it needs to exist.
Treasurer Peter Costello is to make a decision on the Commonwealth Government Securities (CGS) market's future ahead of delivering the federal budget in May.
Mr Costello has said he favours, with the full sale of Telstra being the trigger, retiring all government debt.
That raises the question of whether there needs to be a CGS market to trade government debt.
With the privatisation of Telstra on the backburner until 2004/05, Mr Costello's wish has hit a delay.
Many market participants believe there are...
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