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BTP/Bund spread, tightest since April

BONDS
  • BTP/Bund spread is a touch wider this morning 0.8bp, with some desks likely favouring some fading.
  • Regardless, big eyes on spread developments, as we broke the 100bps short term base yesterday.
  • We trade at tightest levels since 5th April.
  • Further tightening eye 95.6357 (5th April low), and a clear break opens to 90.5835 (12th Feb low)
  • NOTE:; that the latter is the tightest level since 2015.
  • The low in that year comes at 87.5135, and tightest since 2013.

Chart source: Bloomberg

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