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Core Yields Edging Higher as Equities Bounce

EGBS
  • Core EGB markets trade softer ahead of the Tuesday NY crossover, helping boost longer-end yields as the curve steepens slightly. Equities have bounced off the Monday lows, helping ease EGBs off recent highs.
  • As a result, the German 10y yield has added 2.5bps, with the curve modestly steeper. Similar moves seen across Italy, as the curve bear steepens, led by a rise of as much as 6bps in the longer-end.
  • A speech on the US' COVID approach takes focus going forward, with Biden expected to formally announce the delivery of 500mln free home test kits across the USA in the coming weeks.

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