They have had one step out hole already(14/3) and the market was not impressed. SP fell from 1.80 to 1.20.
The next step out we hope is more impressive.
The fact that LF is 32m at 2.6% results in SP going backwards is totally mystifying. But as you say it is all focused on ND. Seems pretty dysfunctional to me. That is a reflection on what drives the market forces, not CNB.
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