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Germany lead Bond higher

BONDS
  • Longer end Germany seems to be leading here Buxl and Bund, with some spillovers into BTP, Gilt and OAT.
  • No new headlines or new trigger, more likely some squaring as the US start to come in.
  • German 30yr, not really a driver, contract is finding a bid, as the Auction is out of the way
  • US Tnotes still lag behind, without forgetting that the US is selling $36bn 10yr later today, which should weigh into the bidding deadline.US CPI is of course at the forefront.

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