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- Local rates trade +1-2bp softer this morning, following on from yesterday's broadly weaker session in the lead-up to the FOMC minutes.
- The local curve bear steepened on the day with 10-15Y yields rising +4.1-5.3bp on the day. The 10Y stands a fraction below 3.65, rising sharply towards 2018's swing highs in the 3.74-3.90 range.
- W/w the curve is positioned 18-21bp higher in the 10-30y section of the curve with the 20Y most offered.
Hungary Curve Change wow