which they had said "non-seasonally adjusted" consumer price index for all the real ners.
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This sounds horrendous for (a) building a curve (b) any kind of relative value (c) trying to interpret breakevens. I get why the notes are designed like that but it must make trading them a pain in the ass.
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Mate welcome to the wonderful world of "breakevens are really weird and shouldn't be taken as gospel, holy smokes"
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Causes lots of optical distortions in front end when looking purely on a yield basis
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