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Commerzbank Weigh In On 5y5y €ILS Move

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Commerzbank note that “5y5y €ILS increased further above 2.50%. The latest leg higher in €-break-evens is all the more remarkable considering the notable risk-off in equities. Increasing oil price dynamics and the upside surprise in the UK CPIs are keeping the focus on structural inflation pressures. The next level to watch out for is 2.60% in 5y5y €ILS, as the break-even rally failed there in early March.”


Fig. 1: 5y5y €ILS

Source: MNI - Market News/Bloomberg

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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