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Greece vs Bund, another 15bps tighter.

BONDS
  • Continued tightening in the peripheral spread against the German 10yr.
  • Greece is now in the lead, and tighter by another 15bps, and to a lesser extend, Italy (5.3bps), Portugal (3.6bps), and Spain (2.9bps).
  • Greek/Bund is now tightest since April, with next support target at 200.00bps (psychological,) and 198.82bps (April low and lowest since February).

Chart source: MNI/Bloomberg

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