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EGBS: Bund Futures Softer Alongside Wider Core FI; Peripherals Tighten

EGBS

Bund futures are -49 ticks at 131.57 as global core FI unwinds some of yesterday’s post US CPI rally.

  • European desks have faded the modest overnight uptick in EGB futures this morning, with small upward revisions to French and Spanish June HICP prints and an uptick in Brent crude futures weighing.
  • The German cash curve has extended yesterday’s steepening a little, with 2s10s +1.6bp at -31.6bp.
  • European equity futures are 0.2% higher today, helping 10-year peripheral spreads to Bunds tighten modestly. 
  • US PPI headlines today’s broader macro calendar at 1330BST.
  • The ECB is in its pre-meeting quiet period, meaning any scheduled Governing Council appearances should not touch on monetary policy matters.
  • However, we note that any interviews conducted before the quiet period may still be published.
CEEMEAEurozoneBulletGlobalFixed Income BulletsRegion
CEEMEAEurozoneBulletGlobalFixed Income BulletsRegion

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