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EUR 5y5y Edges Higher Alongside Oil Prices, Still Below Pre-U.S. CPI Levels

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EUR 5y5y inflation-linked swaps tick higher alongside oil prices and with modest revisions higher seen in some of the final Spanish CPI readings, helping counter early Bund demand.

  • 5y5y is still a couple of bp below pre-U.S. CPI levels.
  • Bunds had already pulled back from yesterday’s high following soft demand at the latest 30-Year U.S. Tsy auction.
  • Macro news flow has been light, with much of the focus falling on the U.S. political situation, the impending U.S. PPI release and JPY FX matters.
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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