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Round trip

BONDS
  • Bunds, gilts and Treasuries all moved lower on the European open despite another spike higher in European natural gas futures this morning. Since the early moves, core fixed income has reversed and is now closer to flat on the day.
  • Lookin ahead, today's calendar is relatively quiet with market participants looking forward to Jackson Hole later in the week and the flash PMI data tomorrow.
  • TY1 futures are up 0-3 today at 118-06+ with 10y UST yields down -0.3bp at 2.972% and 2y yields up 4.6bp at 3.281%.
  • Bund futures are up 0.01 today at 152.18 with 10y Bund yields unch at 1.227% and Schatz yields down -1.5bp at 0.793%.
  • Gilt futures are down -0.13 today at 112.96 with 10y yields up 2.4bp at 2.433% and 2y yields down -0.1bp at 2.492%.

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