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Recovering From Lows, Peripheral Widening Impetus Contained By Broader Dynamic

EGBS

Peripheral spread widening observed in the initial reaction to the ECB decision reverses as a steady U.S initial jobless claims print, vs. expectations for a moderation, allows global FI to move back from session cheaps. The move back in peripheral spreads has also been aided by ECB-dated OIS terminal rate pricing pulling back from highs of ~3.95% back to ~3.90%, once again helped by the U.S. IJC print.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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