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In the aftermath of the BTP auction, the 10Y...>

BTPS
BTPS: In the aftermath of the BTP auction, the 10Y Bund BTP spread has widened
by around 2.5bp to the high of the day. The auction metrics were not the best.
Not hearing of any dealer redistribution trades and no block has yet shown up.
- Some thought the auction was going to be strong.

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