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- Eonia last fixed at -0.3660% unch with......>

EONIA
EONIA: - Eonia last fixed at -0.3660% unch with volume ticking up to EUR2.3bln
from EUR2.1bln. 
- The forward curve has steepened a touch over the last week with 2y1y up 4.0bp.
This mirrors the rebound in the EUR 5y5y forward inflation swap and likely
reflects a natural pullback following heavy compression since May. The Eonia
5y1y still implies limited policy tightening over the medium term. 
- All eyes will be on the ECB next week, which has become a 'live' event
following Draghi's Sintra speech. Even if now new policy developments
materialise next week, a failure to validate market expectations for further
easing could be the trigger for a decent re-pricing in the short term.

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