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Focus on German IFO

BUNDS
Bund: start the session better bid, up 10 ticks at 176.17.
  • Covid spreads concerns in Spain is keeping safer haven
    Bonds underpinned during the European opening bell.
  • Curve is small bull steeper, within Friday's range, with 5/30s
    trading at 59.959.
  • Peripherals are a touch tighter, with Portugal leading
    at 1.3bps..
  • Attention this morning will be on the German IFO data.

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