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CBA Recommend Downside Protection In XM

AUSSIE BONDS

CBA have recommended buying the June 98.20 put options in XMM1, paying 4.5bp. They note that this ties in with their point forecast re: ACGB yields (1.65% at end of Q221 & 1.80% at end of Q421), but also provides protection against a firmer than expected round of Q121 CPI data (which is set to hit on April 28).

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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