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German fixed income futures stuck to a........>

BUNDS
BUNDS: German fixed income futures stuck to a tight range overnight, proving
less sensitive than the majority of broader assets to U.S.-China trade headline
flow.
- Schatz -0.015, Bobls -0.030, Bunds -0.06.
- Bunds were underpinned Friday, on the back of a softer German IFO survey, with
final German GDP & EZ inflation printing in line with flash estimates. ECB's
Villeroy & Nowotny stuck to their respective scripts, while ECB President Draghi
offered little of note.
- Worth mentioning on Friday Fitch affirmed Italy's sovereign credit at BBB;
outlook negative, while most expected this, the current dynamic evident in Italy
meant that there was an outside chance of a rating downgrade.
- Weekend news flow saw a continuation of recent regional themes, Brexit
impasse, French President Macron clawing his way back in the polls, questions
over the political backdrop in Spain, reassurance over the health of Italy's
ruling coalition, from within, and a steady budget projection from Portugal.
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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