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Cheaper As Oil & Equities Move Higher, Peripherals Narrow

EGBS

A bid in equities and oil keeps EGBs under pressure in early Thursday trade.

  • Bund futures have had a look through yesterday’s low but have edged away from worst levels, last -35.
  • The German cash benchmarks sit 2-3bp cheaper, with a light bear flattening move seen.
  • The risk-on theme is allowing 10-Year Italian & Greek paper to compress vs. Bunds, while other EGB spreads vs. Bunds are little changed to a touch tighter on the day.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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