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Markets Struggle for Direction ahead of Fed

CREDIT UPDATE

No clear skew in €IG this morning, index prints unch. as well, equity equivalents are +0.4% in line with broader market & again muted moves by sector - H&M the biggest fall after reporting. Rates reversing the bulk of its post-open rally on German state/regional CPI partials - German national CPI prints at 1pm London - our Economist will have a read on that soon.

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