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HICP lower than consensus but still higher than Eurostat estimate

GERMAN DATA
  • The German HICP print is still likely to see an upside revision to the EZ HICP number next week as it's higher than the estimate Eurostat used. We'll be looking through the details over the next few minutes.
  • Bunds obviously moving higher in response, and we would expect them to remain higher, but some of the upside potential here is likely to be capped as the market looks ahead to next week's EZ HICP print.

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