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BONDS: Off Lows As Oil Ticks Lower

BONDS

The downtick in crude oil is probably providing some background support for core global FI markets after the initial supply-/equity-induced pressure, with major bond markets edging away from session lows in recent trade.

  • Little in the way of fresh fundamental news flow to report.
  • Presence of long end supply from Germany and the equity uptick leaves EGB spreads to Bunds little changed to ~1bp tighter on the day, although the long end OAT syndication, as well as Portuguese and Greek issuance is also eyed. 
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The downtick in crude oil is probably providing some background support for core global FI markets after the initial supply-/equity-induced pressure, with major bond markets edging away from session lows in recent trade.

  • Little in the way of fresh fundamental news flow to report.
  • Presence of long end supply from Germany and the equity uptick leaves EGB spreads to Bunds little changed to ~1bp tighter on the day, although the long end OAT syndication, as well as Portuguese and Greek issuance is also eyed.