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Little Net Reaction To ECB Minutes In Core EUR Rates

EGBS

Little net reaction in Schatz & Bund futures as the accounts of the most recent ECB meeting fails to break meaningful ground, generally tracking post-decision rhetoric from Lagarde.

  • ECB-dated OIS continues to show a little under 100bp of cuts for ’24 on the whole.
  • Light pressures in Tsys seems to have more impact, with German benchmark futures incrementally softer alongside that move, albeit with German benchmarks well of worst levels of the day.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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