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German fixed income futures trade a touch.....>

BUNDS
BUNDS: German fixed income futures trade a touch softer than settlement at
writing. Schatz -1.0 tick, Bobls -3.0 ticks, Bunds -11 ticks.
- Several ECB speakers hit the wires late on Thursday. Weidmann was upbeat on
the outlook for German consumption, noting that the ECB should press on with
normalisation of monetary policy, if inflation allows. Elsewhere, EC President
Juncker told Handelsblatt that Weidmann is a "suitable" candidate to succeed
Draghi as President of the Bank. ECB's Rehn noted the improvement in recently
released EZ economic data, but warned against over-optimism. Finally, outgoing
ECB chief economist Praet cautioned against major changes to the bank's
strategy.
- Tuesday's strong German CPI data will be reflected in today's advance EZ
inflation metrics, it is worth remembering that the German print comfortably
topped estimates, even when accounting for Easter effects and the recently
revised methodologies.
- Also worth highlighting that France's sovereign credit rating will be reviewed
by Moody's after hours (currently Aa2; outlook positive).
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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