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BUNDS
BUNDS: German fixed income futures are little changed on the day. Schatz +0.005,
Bobls unch., Bunds -0.05.
- Tuesday bought soft EZ data & remarks from ECB Pres Draghi, who said that
"recent economic developments have been weaker than exp. & uncertainties,
notably related to global factors, remain prominent," subsequently attempting to
play down worries re: recession. German 2018 GDP growth came at 1.5%, the lowest
in five years, while final French & Spanish Dec CPIs came at 1.9% & 1.2%
respectively.
- The space moved to best levels after UK PM May's Brexit deal was comfortably
defeated in the Commons, and eased thereafter, although the move lower could
hardly be deemed a pullback, with contracts operating just shy of Tuesday's
highs at writing.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com