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EGBS: Spreads To Bunds Little Changed, U.S. CPI Data Eyed

EGBS

Spreads to Bunds are essentially unchanged, with UK CPI data having little lasting impact on EGBs, as the initial knee-jerk rally to the data unwinds.

  • An uptick in the Euro Stoxx will be providing some background spread tightening impetus.
  • 10-Year BTP/Bunds has traded either side of 140bp in recent sessions after peaking at ~154bp during last Monday’s risk-off trade.
  • EUR 3M10Y vol. has stabilised around the middle of its July 23-Aug 5 range.
  • U.S. CPI data provides the macro data release of note today, coming in the wake of yesterday’s softer-than-expected U.S. PPI data.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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