Some clever chap at the Australian Office of Financial Management (AOFM) probably had a secret chuckle when the following advertising campaign was approved, which I noticed today but which may have been around for a while:
By deep liquidity, the AOFM means there are a lot of bonds on issue (i.e. the Australian Government owes a lot of money, around $230 billion) across a range of maturities from a few months for Treasury notes to 15 years for some Treasury bonds. While I admit this deep liquidity is attractive to investors, because they know there is an active market for the bonds, I still find it amusing the AOFM is using our large debt as a selling point. Very clever.