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German 10s/30s flattest since 2007

BUNDS
  • Massive volumes are going through, and a big clue that RM are at play.
  • Euribor strip is already 13 ticks down
  • Big flattening in 10s/30s, with Bund down 39 ticks, while UBH2 trades 70 ticks up, as desk continue to price more punchy short term hikes, and longer holds.

Chart source: Bloomberg

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