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BTP: BTP/Bund Spread Widening Persists

BTP

The 10-year BTP/Bund spread is now 7.5bps wider today at 132bps, as European extend lower.

  • The spread is at its widest since October 9, after reaching a low of ~117bps on October 18. The late-October widening was in part driven by hawkish ECB repricing following the stronger-than-expected flash Eurozone Q3 GDP and October inflation data.
  • BTP futures are off intraday lows, but remain -51 ticks today at 118.82.

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