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Bull flattening

BONDS
  • Better buying of the longer end, pushes the curve bull flatter,
    with 5/30s at the low of the day, unwinding some of yesterday's move.
  • Similar price action in the US Treasury curve (bull flatter),
  • US 5/30s are at the low of the day in early Europe trading.
  • Peripherals are lagging, somewhat, with Italy and Greece
    2bps wider against the German 10yr.

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