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Recovers 70 ticks in the past hour.

BUNDS
  • No real new news for the pullbacks in Govies.
  • Some position squaring, with lower volumes compared to last week.
  • Bund has recovered 70 ticks in the past hour.
  • BTP is still lagging Germany, translating to a 6.3bps wider spread.
  • BTP/Bund was just wider by 0.5bp on the open, so a decent move for today's session.
  • The spread has widened 35.80bps since the September low

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