to a recent peak
to concatenate the short end LEBACs and longer end of 600bp ... BOCANs vs BOTEs via projecting
27 5% - with LebeicyBOTES • Mc memo Mar- 1 e
BADLAR
rates using forward rates implied by a
— ROTES nominal curve derived from LEBACs and BONTEs ... tightening spread yield. % -••.BOTES
23%. 2.4X4Is (shifted =eerie)
between LEBAC yields and
BADLAR
. We expect
B2CANt9 •••••••BOCANS iLEBACSSOTES1
higher-for-longer LEBAC rates to attract a larger share