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EGB/GILTS SUMMARY

BOND SUMMARY

Bund have traded within the morning ranges this afternoon, as the street waited for the all important EMA and MHRA pressers regarding Astra Vaccinations

  • EMA found possible link to very rare cases of unusual blood clots with low blood platelets
  • The chance of having this occur is very low, but you should still be aware of symptoms so you can get prompt medical treatment to help recovery and avoid complications.
  • German curve is flat on the day.
  • Peripherals have also traded inline with Germany, and spreads are mixed, leaning flat against the German 10yr
  • Spain and Italy trades just 0.5bp wider.
  • Gilts saw similar price action, and remains underpinned after MHRA announced that Covid jab won't be offered to Brits under-30s amid fears of rare blood clots.
  • People aged 18-29 will be given an alternative vaccine such as Pfizer or Moderna after clotting cases throughout Europe.
  • Looking ahead, Fed Kaplan, Barkin and Daly are still scheduled.
  • ECB Rehn, and FOMC minutes are all the notable events left for the session

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