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Futures recover from their early weakness

BONDS
  • Bond futures have recovered their early weakness with Bund futures higher on the day now and BTP futures now back to flat on the day (after breaching the 130.00 level and moving as much as 60 ticks lower to a low of 129.71 earlier).
  • Still no real headlines, driving the moves. The German curve is now bull steeper on the day while the UST curve is bear flatter (mostly due to moves in the Asian session). Peripheral spreadss are now consistently a bit wider, led by Italy (Greek spreads no longer narrower on the day).

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