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German Short-End Selloff Eases, But Bear Flattening Persists

EGBS
German short end yields pulling back from session highs, with Schatz at 2.73%, off 7bp from the intraday (and two-week) high set about 1.5 hours ago. No obvious driver but has come alongside a slight dip in ECB hike pricing and oil prices.
  • This has helped relieve the bear flattening move a little but 2s10s still -4.6bp on the day at -37.9bp (thus set for the 4th consecutive session of bear flattening).

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