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Core European Curves Resume Flattening Bias

EGBS
  • Following yesterday's historic moves for for the German front-end (Schatz yields posted their largest daily gain since September 2008), EGB markets are slightly more sanguine, but that hasn't stopped the march higher in front-end yields. Schatz yields are higher by a further 7bps at typing, touching 2.6654% at the day's high to prompt further inversion of the German curve.
  • The Italian, French curves are similarly slightly flatter, with French 2y yields adding just over 8bps at typing.
  • Lagarde set to speak, making the introductory speech for the ECB Watchers conference in around 10 minutes.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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