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STIR: RBA Dated OIS Pricing Softer Today But Mixed Vs. Pre-RBA Decision Levels

STIR

RBA-dated OIS pricing is flat to 2bps softer across meetings today. 

  • Nevertheless, pricing remains mixed compared to February’s pre-RBA Decision levels—meetings through May are 3-4bps firmer, while those beyond are 2-14bps softer.
  • A 25bp rate cut in April is given a 9% probability, with a cumulative 63bps of easing priced by year-end (based on an effective cash rate of 4.09%). 

  

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RBA-dated OIS pricing is flat to 2bps softer across meetings today. 

  • Nevertheless, pricing remains mixed compared to February’s pre-RBA Decision levels—meetings through May are 3-4bps firmer, while those beyond are 2-14bps softer.
  • A 25bp rate cut in April is given a 9% probability, with a cumulative 63bps of easing priced by year-end (based on an effective cash rate of 4.09%). 

  

Keep reading...Show less