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Govies and Rates market remain offered

CROSS ASSET
  • ECB Knot's comments on multiple 50bps hikes planned by the ECB is keeping the lid on Rates (Euribor) and Govies.
  • But moves are still somewhat limited, ERM3 is still short of yesterday's low at 96.65, and the contract was as low as 96.58, pre Bloomberg source piece.
  • Similar for Bund, now off the low, with the Bund contract being as low as 138.44 pre Bloomberg ECB piece, now at 140.12

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