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MNI: RBA/RBNZ VIEW: In their 2019 global outlook TD securities recommended
paying RBNZ Nov'19 OIS to receive RBA Nov'19 OIS.
- TD wrote that "the market has priced 16bps of a 25bps hike for the RBA, but
only 12bps of a 25bps hike for the RBNZ. We believe there is a greater chance
that the RBNZ hikes before the RBA. We enter at +4bps, target +16bps, stop at