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EGBs - Reverse yesterday's price action

BONDS
  • EGBs and Bund see another decent session in terms of ranges, but again, volumes fall below averages.
  • The theme has been some reversal of yesterday's price action, with risk off, retracing the whole of yesterday's rally.
  • Peripheral spreads are all wider, Greece by 1.1bp, besides Spain that sits 0.9bp tighter.
  • Looking ahead, ECB Visco, Fed Bullard, Daly are still scheduled to speak.
  • Bund futures are up 0.23 today at 159.66 with 10y Bund yields down -1.4bp at 0.488% and Schatz yields down -0.1bp at -0.244%.
  • BTP futures are up 0.36 today at 138.72 with 10y yields down -1.2bp at 2.009% and 2y yields down -1.0bp at 0.143%.
  • - OAT futures are up 0.20 today at 152.12 with 10y yields down -1.2bp at 0.946% and 2y yields up 0.8bp at -0.192%.

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