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Move back bull flatter

BUNDS

Bund is back up to levels seen at the cash open, with Italy and Irish supplies out of the way, after being weighted by delta hedging.

  • German curve is moving back to bull flattening.
  • Peripheral trade a touch tighter against the German 10yr, while Italy outperforms and sit 4.2bps tighter
  • Cross assets FX and Equities remains fairly stable at current levels

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