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Off Best Levels

BONDS

Core bond markets have plateaued a little off session bests as the dust settles in the wake of the NY data releases.

  • Tsys bull steepen on the day, with cash Tsys flat to 4bp richer. FOMC-dated OIS ease post-data, but operate off dovish extremes, helping temper the bid in Tsys.
  • This morning’s bear flattening on the German curve has morphed in bear steepening, with benchmarks running 2.5-5.0bp cheaper on the day.
  • Gilts also run marginally steeper on the day, with the major cash benchmarks little changed to 2.5bp cheaper.
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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