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BTP/Bund spread edges towards the February low.

BONDS
  • Peripheral spread are still fairly mixed, with most of the flow going into rolling to the June expiry.
  • Greece sits 1.8bp wider, while Italy is 1bp tighter.
  • BTP/Bund is nonetheless slowly edging towards the February low at 177.87bps.
  • And a clear break through the latter, will have desks looking at 169.85bps the 2023 low, and tightest print since 22nd April 2022.

Chart source: MNI/Bloomberg

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