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GILTS: Curves Steepen, Led By Germany

GILTS

Bull steepening on the curve driven by moves in Bunds, both pre- & post-European PMIs. Yields 1.5-6.0bp lower.

  • 2s10s moves to the steepest level seen since the BBG benchmark roll in August, back above 0.
  • 5s30s is less than 1bp away from its September high.
  • UK flash PMIs due shortly, more on that in an upcoming bullet.
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Bull steepening on the curve driven by moves in Bunds, both pre- & post-European PMIs. Yields 1.5-6.0bp lower.

  • 2s10s moves to the steepest level seen since the BBG benchmark roll in August, back above 0.
  • 5s30s is less than 1bp away from its September high.
  • UK flash PMIs due shortly, more on that in an upcoming bullet.