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RBA Dated OIS Mixed Ahead Of RBA Minutes

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BulletMarketsFixed Income NewsHomepage

Ahead of the RBA Minutes for the March meeting today (0030 GMT), RBA dated OIS pricing is mixed with meetings out to July 2-6bp firmer and meetings beyond 2-4bp softer. April meeting is back to flat after pricing 4bp of easing yesterday.

  • The RBA Minutes will provide further details on the dovish shift at the March meeting.
  • With the market not just pricing a policy pause at the April meeting but an end to the tightening cycle, the market will be assessing whether it has overstretched by pricing around 45bp of easing by year-end.

Figure 1: RBA Dated OIS: Today Vs. Yesterday

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Ahead of the RBA Minutes for the March meeting today (0030 GMT), RBA dated OIS pricing is mixed with meetings out to July 2-6bp firmer and meetings beyond 2-4bp softer. April meeting is back to flat after pricing 4bp of easing yesterday.

  • The RBA Minutes will provide further details on the dovish shift at the March meeting.
  • With the market not just pricing a policy pause at the April meeting but an end to the tightening cycle, the market will be assessing whether it has overstretched by pricing around 45bp of easing by year-end.

Figure 1: RBA Dated OIS: Today Vs. Yesterday

Keep reading...Show less