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Eonia last fixed at -0.3660% up from..........>

EONIA: Eonia last fixed at -0.3660% up from -0.3680% with volume unchanged at
EUR2.5bln. Excess liquidity stands at EUR 1,769bln.
- Spot EUR OIS rates have broadly ticked higher in a tight range <1bps. Implied
forwards have similarly inched higher amid a longer running drawdown in policy
rate expectations since October.
- This morning's slight negative surprise in the French CPI data for December
(1.9% Y/Y vs 2.0% survey) further adds to the growth/inflation slowdown
narrative for the euro area and will keep pressure on the OIS curve,
particularly =12m tenors.

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