Given the bid in Gilt future, following the disappointing UK services PMI, the Gilt/Bund spread is tightening further, by 3.1bps.
Some desks will look for support at the 110.00bps mark.
But a break through the latter, opens to the November low at 107.44bps, which is also the tightest print since the 10th August.

Chart source: MNI/Bloomberg

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Given the bid in Gilt future, following the disappointing UK services PMI, the Gilt/Bund spread is tightening further, by 3.1bps.
Some desks will look for support at the 110.00bps mark.
But a break through the latter, opens to the November low at 107.44bps, which is also the tightest print since the 10th August.

Chart source: MNI/Bloomberg

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Gilt/Bund spread 3.1bps tighter

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