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Holding Lower Post-RBA Minutes

AUSSIE BONDS

We continue to pine over the RBA's April meeting minutes for an explanation re: the pressure that has crept into the space in the wake of the release. It may just be as simple as the fact that there was no real expansion on the RBA's thought process surrounding the potential extension of the 3-Year yield targeting scheme to cover ACGB Nov '24. YM -2.5, XM -6.0.


Fig. 1: ACGB Apr '24/Nov '24 Yield Spread (bp)

Source: MNI - Market News/Bloomberg

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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