August 28, 2024 11:43 GMT
Oil Weakness Provides Bid
BONDS
Core global FI markets rally a little further as oil prices continue to tick lower.
- TY and Bund futures are through yesterday’s highs, while gilt bulls haven’t been able to test yesterday’s high in futures.
- Bunds outperform core global peers at the 10-Year point.
- Yields on the German curve are 2-6bp lower, bull flattening.
- German 2s10s registered a fresh year-to date closing high yesterday, while 5s30s registered a multi-month closing high.
- Macro headline flow remains light, leaving cross-asset moves at the fore.
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