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EUR 5y5y Edges Higher Alongside Oil Prices, Still Below Pre-U.S. CPI Levels
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.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.