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EGBs are pushing to session lows

BONDS
  • Not seeing anything too obvious on this pull back lower in EGBs, with Gilt, Treasuries and Short Term Interest Rate markets far more stable.
  • Oil shouldn't really be a driver, since moves have mostly been in Europe, and the Push in Oil is driven by the Red sea risk events.
    And there's been very little interest in Haven flow so far in Govies, although a late Friday squeeze in Futures going into the weekend can't be ruled out.
  • In terms of flows, these have been light, a 3k sold in TYH4, 1k in BTP, and OAT.
  • Nonetheless most contracts are still well within this week's ranges.

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