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UK DATA

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EUROZONE ISSUANCE

EGB Supply For W/C Sep 13, 2021 (2/2)

EUROZONE ISSUANCE

EGB Supply For W/C Sep 13, 2021 (1/2)

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Bearish Correction Extends

EUROZONE T-BILL ISSUANCE

Bill Supply For W/C Sep 13, 2021

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BMO note that "the 2-Year auction was met with a reasonable reception and given the link between 5-Year yields and liftoff expectations we'll be closely watching Tuesday's Treasury auction for any indication of a market lean ahead of Powell's press conference. The consensus remains for little change in the statement or forward guidance; save an acknowledgment of the risk the pandemic will go into extra innings. This implies that a strong takedown of 5s will reflect investors' expectations the Chair will be more dovish than recent appearances. However, a weaker reception can't so easily be interpreted as the opposite given the outright level of yields and the baseline risk-event considerations (i.e. why not wait until after the Fed is out of the way to add 5s)."