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NAB Do Not Look For A Sustained Break Above 10bp For 3-Year EFPs

AUSSIE SWAPS

NAB note that "swap spreads remain under widening pressure but it was the 3-Year EFP which jumped wider last week as the front of the swap curve re-priced for the (expected) recovery while the bond curve remains anchored by YCC. Further widening is possible but for now we do not see spreads making a sustained break above 10bp."

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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