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Oil Also Factoring Into Pressure

BONDS

Another factor to highlight when it comes to today’s weakness in core global FI markets is the uptick in crude oil futures (which we touched on earlier). U.S. breakevens and EUR 5y5y inflation-linked swaps tick higher on the day alongside that move.

  • When it comes to the rebound in crude our commodities team notes that there has been increased focus on Middle Eastern/Libyan supply disruptions, while bears have not been willing to test early ’24 lows in both Brent & WTI.
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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