CIBC FICC Strategy: FX Files – Nightmare on BAX Street

FICC Strategy Reports

Overnight: In Australia, the RBA decide to forego buying the benchmark April 2024 bond. YCC is now under attack and yield on the issue is at 53bps – well above the RBA target of 10bps. There’s a shift going on in the DM central bank world. More on that in 1). Core rates, outside the long-end in the US, are on the defensive.

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