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German 2s10s Set For Flattest Close Of Cycle

BONDS

Amid a combination of German 2s10s look set for the most inverted close of the cycle (-11.5bp), mirroring the US flattening move in the past few hours.

  • Meanwhile UK 2s10s are at the flattest since - Oct 12.
  • It's been a bear flattening move across the curves, with central bank expectations hike firm, but demand for duration relatively strong amid recession concern and weakening commodity prices.

Source: BBG, MNI

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