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EGBs/GILTs: The Fed's decision to......>

BOND SUMMARY
BOND SUMMARY: EGBs/GILTs: The Fed's decision to slash policy rates to zero has
done little to restore market confidence with European equities continuing to
slide and periphery sovereign bonds selling off. 
- Gilts are bid this morning with yields down 4-5bp. PM Boris Johnson is due to
speak later today.
- In the euro area, German bunds appearing to be soaking up safe haven demand.
Bunds have firmed, but price action is relatively contained for now. Current
yield levels: 2-year -0.908%, 5-year -0.762%, 10-year -0.552%, 30-year -0.216%.
- French OATs have joined the periphery sell-off. Yields are broadly 2-5bp
higher.
- BTPs have sold off sharply and spreads over bunds have widened further. Having
breached the 2% level, the 10-year benchmark yield has pulled back to 1.924%.  

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