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Citi Maintain 20-Year PGB Tightener Vs. OATs Ahead Of Fitch Review On Portugal

EGBS

Citi note that “the recent upside rating momentum for the periphery will be on test tomorrow with Fitch’s review of Portugal” (current rating: A-; Outlook Stable).

  • They see “the possibility of a positive outlook from Fitch sometime this year, potentially when there is more clarity on government formation, and remain long 20yr PGBs vs OATs.”
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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