Risk aversion clearly seems to have returned to financial markets. The sell-off seen in equity markets has been mirrored in increasing demand in government bond markets. Treasury Corp NSW added A$150 million to its 2020 capital indexed bond line on Friday to take outstandings to A$1.05 billion. The bonds were sold at a weighted average yield of 3.5939 per cent and oversubscriptions of 2.95 times were received.On Monday, the Australian Office of Financial Management sold A$301 million of 2020 CIBs at a weighted average yield of 2.98 per cent and received oversubscriptions of 2.98 times. Then on Wednesday, AOFM sold A$701 million of June 2014 bonds with a weighted average yield of 5.3847 per cent. Oversubscriptions came in at 5.5 times.And across the Tasman, the New Zealand Debt Management Office saw oversubscriptions of nine times for NZ$50 million of November 2011 and April 2015 bonds and almost five times for NZ$150 million of April 2013 bonds. The bonds achieved weighted average yields of 4.19 per cent, 5.38 per cent and 4.89 per cent, respectively. Staying in New Zealand, electricity generator and retailer TrustPower is considering a two tranche public bond issue. TrustPower is looking at five- and seven-year bonds, although the latter will be subject to demand, with the proceeds to be used for refinancing and general corporate purposes. The offer is expected to open this week or next using a simplified disclosure prospectus.