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VIEW: J.P.Morgan note that "in Australia, the...>

RBA
RBA: VIEW: J.P.Morgan note that "in Australia, the sell-off in global fixed
income markets has taken ACGB 3Y bond yields to their highest level since the
RBA started its bond purchase program and 3Y yield target of 0.25%. Still, this
has not been enough to induce the RBA to resume balance sheet expansion via
further accumulation of ACGBs, and so the market is still left guessing what the
trigger will be for a resumption of ACGB purchases. We suspect a move to 0.3% in
3Y yields might be enough to get the RBA back in play - either way, its response
to any such move will be very informative."
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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