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OAT/Bund spread breaks the 49.00bps handle

BONDS
  • After finding support at the 49.00bps mark throughout this week, the OAT/Bund spread has now breached below the 49.00bps handle, as OAT and BTP futures outperform the German 10yr.
  • Some desks will be looking at 48.00bps next, but support is seen at ~47.04bps.
  • For BTP/Bund, besides the psychological 150bps, better support is seen at 145.84bps, the March 2022 low.

Chart source: MNI/Bloomberg

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