Daily Alert: Dairy markets still on the foils, ASB lifts its forecast

  • Last night’s GDT dairy auction revealed the expected pull-back in dairy prices following their 15%-odd surge of a fortnight ago.
  • Overnight, offshore markets marked time ahead of tomorrow morning’s Federal Open Market Committee decision.
  • In the wake of yesterday’s Feb RBA Board minutes, our CBA colleagues have dropped their prior expectation that the RBA would remove its 3-year 0.1% bond yield target in H2 2021.

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