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Portugal vs Germany at a 1yr low

BONDS
  • Peripheral spread spreads are all mostly tighter, besides Italy that sits 0.7bp wider against the German 10yr.
  • Portugal leads and is 4.9bps tighter, and the spread trades through a 1yr low (tightest since 29/03/22).
  • Next support area is at 73.33bps, the March 2022 low, and tightest since 3rd Feb 2022.

Chart source: MNI/Bloomberg

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