June 27, 2024 20:37 GMT
J.P.Morgan Recommend Paying 10-YEar EFPs
AUSSIE BONDS
J.P.Morgan write “in our view the funding backdrop reinforces macro developments, in that with the AUD curve having flattened more than is warranted on macro drivers, and swap outperforming in relative terms, swap spreads are biased tactically wider.”
- As a result, they recommend paying 10-Year EFPs at +15.6bp.
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