diff --git a/hw/ip/otbn/util/shared/insn_yaml.py b/hw/ip/otbn/util/shared/insn_yaml.py
index d9ebaee..f3fe784 100644
--- a/hw/ip/otbn/util/shared/insn_yaml.py
+++ b/hw/ip/otbn/util/shared/insn_yaml.py
@@ -193,13 +193,22 @@
         (not encoded values). mnem_width is the width to pad the mnemonic to.
 
         '''
-        padded_mnem = self.mnemonic
-        if len(padded_mnem) < mnem_width:
-            padded_mnem += ' ' * (mnem_width - len(padded_mnem))
+        hunks = self.syntax.render(cur_pc, op_vals, self.name_to_operand)
+        mnem = self.mnemonic
+        if hunks and self.glued_ops:
+            mnem += hunks[0] + ' '
+            hunks = hunks[1:]
+        else:
+            mnem += ' '
 
-        return (padded_mnem +
-                ('' if self.glued_ops else ' ') +
-                self.syntax.render(cur_pc, op_vals, self.name_to_operand))
+        if len(mnem) < mnem_width:
+            mnem += ' ' * (mnem_width - len(mnem))
+
+        # The lstrip here deals with a tricky corner case for instructions like
+        # bn.mulqacc if the .z option isn't supplied. In that case, the syntax
+        # for the operands starts with a space (following the optional .z that
+        # isn't there) and would mess up our alignment.
+        return mnem + ''.join(hunks).lstrip()
 
 
 def find_ambiguous_encodings(insns: List[Insn]) -> List[Tuple[str, str, int]]:
diff --git a/hw/ip/otbn/util/shared/syntax.py b/hw/ip/otbn/util/shared/syntax.py
index eaf6e90..acbe5db 100644
--- a/hw/ip/otbn/util/shared/syntax.py
+++ b/hw/ip/otbn/util/shared/syntax.py
@@ -361,9 +361,11 @@
     def render(self,
                cur_pc: int,
                op_vals: Dict[str, int],
-               operands: Dict[str, Operand]) -> str:
-        '''Return an assembly listing for the given operand fields'''
-        parts = []
-        for hunk in self.hunks:
-            parts.append(hunk.render(cur_pc, op_vals, operands))
-        return ''.join(parts)
+               operands: Dict[str, Operand]) -> List[str]:
+        '''Return an assembly listing for the given operand fields
+
+        The listings for hunks are returned separately (to allow an instruction
+        to support glued_ops). To generate the final listing, concatenate them.
+
+        '''
+        return [hunk.render(cur_pc, op_vals, operands) for hunk in self.hunks]