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European govies have traded weaker today alongside G10 gains against USD and fresh downside for stocks.
- Gilts have traded lower with the long-end underperforming. The 2s30s spread is 3bp wider.
- Bunds sold off early into session but have clawed back through the morning and now trade in line with yesterday's close.
- French OATs are similarly unch on the day. Last yields: 2-year -0.7093%, 5-year -0.6825%, 10-year -0.5670%, 30-year 0.3506%.
- The BTP curve has bear steepened with long-end yields inching up 3bp.
- UK CPI for September narrowing missed expectations (0.5% Y/Y vs 0.6% survey), while the public sector net borrowing requirement came in at GBP35.4bn for September, above the EUR32.4bn consensus.
- Greece is placing a Feb-35 bond through syndication today. Books were last seen above EUR14bn.
- The BoE's Ramsden will be speaking at 1310BST with Philip Lane and Luis de Guindos from the ECB will be speaking at 1455 and 1700, respectively.
- The FT reports that the UK government has abandoned spending plans which would covered the remainder of the parliament and will instead opt for a one-year review given the difficulties presented by the Covid crisis.