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Holding Lower, Bunds Above This Week's Lows

EGBS

EGBs hold lower following this morning’s firmer-than-expected Eurozone services PMI data (largely driven by France).

  • Typically hawkish comments from Fed’s Schmid and a tick away from yesterday’s lows in oil futures also factor in.
  • Bund futures comfortably above this week’s low, last -39 at 134.40.
  • Initial support at the 20-day EMA (134.09).
  • Yields ~4bp higher.
  • EGB spreads to Bunds little changed to 2bp narrower, with European equity indices a touch higher.
  • U.S. matters set to dominate this afternoon, with broader focus on weekly jobless claims data & the Fed’s Jackson Hole Symposium, opening this evening.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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