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Looking Through RBNZ

AUSSIE BONDS

Nothing in the way of trans-Tasman impetus in the wake of the latest monetary policy decision from the RBNZ, with the stark divergence between the RBNZ & RBA punctuated by the RBNZ's move to declare a halt to its LSAP scheme come the end of next week, while the NZ OIS strip now prices a 50% chance of a rate hike at the end of the RBNZ's August meeting. YM & XM both print -2.5 on the day at typing, with the previously outlined AU/NZ 2-Year swap spread dynamic eyed.

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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