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Equities at new lows

CROSS ASSET
  • Not much reaction as of yet in Cable or EURUSD, as Equities extend lower since the EU Cash open, US ESU3 eye 4500.00 next.
  • Looking at Govies and rates, there's interest in the front end, ERU3 is bought in over 5.2k and 2yr Schatz in 5k.
  • UK Gilt futures outperforms, bringing the Gilt/Bund spread 2.3bps tighter.

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