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/EGBS: Commerzbank: Dovish Turn & Softer Data Needed For Further Front End Outperformance

STIR

Commerzbank write “dovish ECB talk is a necessary, but not sufficient condition for further € front-end performance. Weaker data is needed. In this regard, today's ECB Consumer Expectations Survey deserves attention, as it has moved the market before in the run-up to ECB meetings. A decline in 3y inflation expectations at least in line with ILS forwards would probably be needed to maintain market hopes of the first cut before June.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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