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Portugal Outperforms & GGBs Lag At 10-Year Point, Although Trade Remains Contained


10-Year peripheral EGB spreads vs. Bunds sit within -/+1.5bp of yesterday’s closing levels, with Portuguese paper outperforming on the rally and Greek paper lagging, while core/semi-core EGBS are little changed when it comes to spreads vs. Bunds.

  • Regional headline flow has been a little limited, with ECB Governing Council member Rehn stressing the focus on underlying inflation, which is only easing “gradually.”
  • In terms of broader regional debt/fiscal matters, reports continue to do the rounds re: the EU unveiling EUR50bn of fresh support for Ukraine later today.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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