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Moody’s Ratings Action Insulates PGBs & BTPs From Light Cheapening In Core FI

EGBS

Ratings insulation from Moody’s actions after hours on Friday mean that peripheral outperformance is maintained on the day, even as Bunds trade on the backfoot. Both 10-Year BTPs and PGBs are little changed on the session as a result, even with Bund yields sitting 3.5bp higher on the day. We ran through spread and rating dyanmics for both markets earlier in the session.

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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