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Anne Karina Asbjorn at.........>

MONTH-END EXTENSIONS
MONTH-END EXTENSIONS: Anne Karina Asbjorn at Nomura calculates that the EGB
month-end extension will be +0.02Y.
- She writes that Italy will be the main beneficiary but that cash flow support
falls in September. 
- Nomura also note that France should benefit in the index extension and prefer
OATs to Belgian debt as French cash flows also pick up in October.

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