October 18, 2024 11:10 GMT
BONDS: BTP vs OAT block trades, spread at lowest level since 2010
BONDS
BTP/OAT block trade spread, looks perfectly weighted.
- OATZ4 1.84k at 126.76.
- IKZ4 2k at 122.19.
Given the latest BTP/OAT block, suggest a tightener, it is worth watching the spread, not only 1.7bps tighter, but it continues to trade at its lowest level since March 2010.
Next support will be seen at 42.93bps, the 2009 low and tightest level since September 2008.
(Chart source: MNI/Bloomberg)
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