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Westpac note that at "61%, the current AU/U.S. 10-Year yield "beta" is still lower than average, however, we note that this has come off the lows of 33% which we saw in August. We attribute this move to the growing optimism in the post lockdown economic recovery, a view that is also backed up by the RBA, and in the near term we expect the "low beta" has more room to "slow" as the economy opens up. However, we don't expect this to invert into "high beta" in the medium term, and we will continue to monitor for any factors that may change this outlook."