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German fixed income futures trade.............>

BUNDS
BUNDS: German fixed income futures trade marginally mixed at writing, after the
space moved back from the opening lows as U.S. equity index futures pulled back
from best levels. Truth be told, it was another quiet Asia-Pacific session for
the space.
- Schatz -0.010, Bobls -0.020 & Bunds +0.03.
- This comes after the German bund curve steepened progressively throughout
Friday, as a strong NFP report & cautious comments from Fed-Chair Powell
supported risk appetite, weighing on global fixed income for the majority of the
session.
- The weekend saw German FinMin Scholz note that the "golden years" of German
tax revenues regularly exceeding expectations are coming to an end.
- Focus in Germany today falls on factory orders and retail sales data, with
industrial production due Tuesday and trade data due Wednesday. On the supply
front Germany taps the 0.50% Apr-30 iBund for EUR0.5bn Tuesday, followed by a
sale of EUR4.0bn of the new 2029 Bund Wednesday. Elsewhere, the ECB will publish
the accounts of its December MonPol decision on Thursday.
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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