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German FI virtually unch; Schatz +1.5, Bobls...>

EGBS
EGBS: German FI virtually unch; Schatz +1.5, Bobls +1.0, Bunds unch.
- Weak m'fing PMIs propelled EGBs higher on Wednesday, with 02/2029 Bunds
trading through the ECB's depo rate. In the periphery, Deputy PM Salvini pointed
to the continuation of the current gov't, with auction cancellations also
helping BTPs to outperform yesterday.
- This morning has seen local reports suggest that Italy is considering a
EUR10bn tax reduction package in the next budget, with Il Sole referencing an
interview with Salvini.
- Elsewhere, RTRS sources note that tension has risen between the Spanish
socialist party & Podemos "with one side saying Podemos' demands were
unacceptable & the other seeing no coalition deal before a vote in parliament on
Thursday."
- The ECB decision headlines today, our preview can be found via the below link:
- https://emedia.marketnews.com/marketnewsintl/ECB_Preview_July_2019.pdf
- German IFO data is also due.
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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