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Linkers Off Session Tights, 5y5y Off Lows

EGBS

upticks in both TTF natural gas and crude oil futures seemed to help with countering a chunk of the CPI-inspired move lower in EUR 5y5y inflation-linked swaps.

  • EUR 5y5y printed at the lowest level seen since early April in the wake of this morning’s Dutch & French CPI data. The metric bottomed out around the time of the Eurozone-wide reading (at 2.3215%), before recovering to the ~2.365% area, sitting little changed on the day.
  • National breakeven metrics also recover from session tights in tandem.
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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