Daily Alert: RBA and markets just don’t see eye to eye

  • Australian yields and the AUD spiked after yesterday’s RBA Minutes acknowledged the risks to the RBA’s inflation forecast.
  • The latest GDT auction was not as strong as signalled by the futures market, but we have maintained our bullish $8.75 kgMS Fonterra milk price forecast for 2021/22.
  • Australian wage data and RBNZ inflation expectations data the key data to watch over the next few days.

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