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EGBs-GILTS CASH CLOSE: Gilts Underperform

BONDS

Core European FI yields fell Tuesday with the short-end leading the charge.

  • After a drop at the open, yields mainly range traded for most of the session, with the now-typical Ukraine-Russia headlines driving at times.
  • Gilts underperformed ahead of the BoE decision Thursday, as UK jobs data came in better than expected.
  • The Federal Reserve decision comes into focus Wednesday.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

  • Germany: The 2-Yr yield is down 7.4bps at -0.418%, 5-Yr is down 6.6bps at 0.019%, 10-Yr is down 3.6bps at 0.332%, and 30-Yr is down 1.9bps at 0.532%.
  • UK: The 2-Yr yield is down 2.7bps at 1.363%, 5-Yr is down 1.9bps at 1.35%, 10-Yr is down 1.9bps at 1.575%, and 30-Yr is down 1.3bps at 1.746%.
  • Italian BTP spread down 2.7bps at 156.7bps / Spanish up 0.4bps at 98.3bps

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