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EGB SUMMARY: German government bonds....>

MNI (London)
EGB SUMMARY: EGB SUMMARY: German government bonds are lower into the NY session
Thursday following recovery in stocks in the wake of comments from Trump's top
economic adviser Larry Kudlow said the administration was in a "negotiation"
with China rather than a trade war.
- MNI yesterday noted that the Chinese tariffs 25% tariffs on key US exports
don't kick in immediately and may not go into play. Key sentence from the China
statement: "Final measures & effective date of planned tariffs to be announced."
- EZ stocks hit a 2-week high with Xetra-DAX breaking a 2-month downtrend. 
- EZ bonds also weighed by supply from France and Spain. France sold OATs at
bottom end of indicative range. 
- Spain's Tesoro Publico sold E4.019bln in 2021-/2028-/2048 SPGB vs E4bln-E5bln
range and E625bln 2027 SPGBei vs E250-E750mln range.
- France sold E7.665bln 2028-/2034-/2039-/2048 OATs vs target E7.5bln-E8.5bln.
- German 10-year Bund yield is up 2.1bps at 0.521% vs 0.534%.
- The longer-end of German curve is underperforming. 2-/30-year yield spread
1.5bps steeper at +175.5bps.

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