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German FI futures trade a touch below.........>

BUNDS
BUNDS: German FI futures trade a touch below settlement, albeit off overnight
lows. Schatz -1.0 tick, Bobls -2.0 ticks, Bunds -8 ticks. The space was
pressured by the broader risk-on flows evident Wednesday, with strong EZ
services & composite PMIs adding fresh pressure after U.S.-China trade talk
optimism & strong regional data weighed in yesterday's Asia-Pac session. Softer
than exp. U.S. data allowed the space to form a bottom in early NY hours, before
another run lower appeared.
- Late Wednesday saw RTRS sources suggest that Germany's leading econ institutes
have revised down their '19 growth exp. to 0.8%, prev. 1.9%."
- Elsewhere, Kathimerini sources have noted that Wednesday's "EuroWorking Group
meeting concluded that Greece has completed the implementation of the reforms
agreed with its creditors and will recommend the disbursement of an outstanding
EUR1bn tranche to the country at the Eurogroup scheduled for Friday."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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