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Italy and Greece

BONDS
  • BTP and Greece continue to hold well, as further Russia tension could delay the ECB's exit strategy.
  • BTP/Bund spread is 5.3bps tighter, after tightening 12bps since Wednesday, after it printed widest level since June 2020 on that day.
  • Greece/Bund similar story, tighter by 8.1bps from yesterday's high, after we printed widest level since Mat 2020.

Chart source: Bloomberg

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