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Off Recovery Highs, Lane Due

EGBS
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Recent trade has seen Bund futures tick away from recovery/session highs at 130.24.

  • What looked to be a block seller of RXM4 (3,775 at 130.13/DV01 ~EUR382K) factored into the move, leaving the contract at unchanged levels of 130.08 at typing.
  • German yields are 0.5-2.0bp lower on the day, with the curve seeing some light bull steepening.
  • EGB spreads to Bunds are still little changed to a touch tighter on the day.
  • ECB chief economist Lane will speak imminently, at 13:00 London (not the 12:00 incorrectly flagged earlier).
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Recent trade has seen Bund futures tick away from recovery/session highs at 130.24.

  • What looked to be a block seller of RXM4 (3,775 at 130.13/DV01 ~EUR382K) factored into the move, leaving the contract at unchanged levels of 130.08 at typing.
  • German yields are 0.5-2.0bp lower on the day, with the curve seeing some light bull steepening.
  • EGB spreads to Bunds are still little changed to a touch tighter on the day.
  • ECB chief economist Lane will speak imminently, at 13:00 London (not the 12:00 incorrectly flagged earlier).