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Commodities Also Factoring Into Stabilisation

EGBS

Another factor to note re: the stabilisation/modest recovery in EGBs, TTF futures have unwound yesterday’s rally, while crude oil futures trade to fresh session lows.

  • That allows EUR 5y5y inflation swaps to ease by a couple of bp after topping out at a fresh ’24 high of 2.40% on Tuesday.
  • Not a huge move lower in EUR 5y5y all told, but worth considering alongside technical support in Bunds holding this morning.
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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