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No Meaningful Market Moves On Back Of Voluntary TLTRO Repayments

ECB

The previously flagged voluntary TLTRO repayments totalled ~EUR34.2bn, which was a little above the estimates that we saw from various sell-side names, although wasn’t too detached from general expectations.

  • Euribor futures are incrementally weaker, although that seemed to be a function of some modest outright bond cheapening, as opposed to any TLTRO related spill over.
  • 10-Year BTP/Bund spread stable around the release.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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