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Bund Futures Dip as Germany Look to Double Net Debt

GERMANY
  • Bloomberg report that Germany are looking to more than double net debt in 2023 to €45bln, considerably higher than the €17.2bln projections outlined in July.
  • Despite the much higher net debt figure, the figures remain within the constitutional limit for new debt.
  • Bund futures tick lower, with Z2 dropping around 30 ticks to 135.85 before stabilising somewhat. Move feeds through to US yields, with 10y adding 1.5-2.0bps in response

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