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Natixis Recommend Longs In BTP 09/25

BTP

Natixis think “that the EGB front end is now too cheap, with the market a little too conservative re: the ECB rate cutting cycle.”

  • They note that “the short end of the Italian curve offers a higher yield than Spain or Germany, as well as a more attractive carry roll down.”
  • As a result, they recommend entering longs in BTP 09/25 (entry: 337bp; target: 310bp: stop-loss: 355 bp; horizon: 3 months).
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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