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A busy afternoon to close out the Month

EGB SUMMARY

Another busy session for EGBs as we close out the Month.

  • Bund has been trading heavy most of the session, and making a 176.89 low, following positive news from US JnJ's data on vaccine efficacy.
  • Bund has since bounced off the low at the time of typing and trading at 177.16.
  • Month end flow have been notable given the above average volumes across assets, including the German curve
  • Volumes are running at 150% of averages and extension is large for EGBs at +0.15yr.
  • German curve has bear steepened, touching highest levels since November.
  • Peripheral are on the margin tighter, with Greece and Italy leading at 3bps and 2.5bps respectively.
  • Looking ahead, Fed Kaplan and Daly.

After market:

  • Fitch on Lithuania (current rating: A, Outlook Stable)
  • Moody's on Germany (current rating: AAA; Outlook Stable)
  • DBRS Morningstar on Austria (current rating: AAA, Stable Trend) & Ireland (current rating: A (high),
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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