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RBA will defend its credibility –

When the RBA’s trading desk wades back into government bond markets this week, expect it to step in more aggressively to defend its word.



Extending the yield curve control to November 2024 is a decision to be made by around July this year though the market believes it wont happen with the economic outlook rapidly improving as vaccines roll out and the Biden stimulus looms.
Moreover, the recent ructions in bond markets should not be interpreted as dysfunction, as some self-interested traders claim. The RBA is not in the habit of bailing out traders caught on the hop by the recent jump in yields and fall in bond prices.
This week is…

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