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Citi Neutral On OAT & BTP Rolls

EGBS

Citi are “neutral on the upcoming OAT roll given same CTDs across front/back contracts, neutral view on repo and neutral positioning in OAT futures. Roll completion is 3.8% (as of late yesterday). For the IK roll, we are neutral as a bullish driver from further CTD curve steepening is offset by marginally long positioning in IK (which is bearish for the roll).”

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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