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Sell-Off Resumes in OFZs, SAGBs

EMERGING MARKETS
  • Selling pressure remains firm in OFZs this morning with yields rising +5-9bp across the curve with 3, 7 & 10Y tenors most offered ahead of Dec Final CPI data due tomorrow.
    • 10Y stands at 8.68 – in line with the Nov-Dec highs.
  • Similarly, LT yields in SAGBs remain under pressure today after breaking key resistance yesterday. 10-30Y yields trade +2.8-4.0bp higher – diverging slightly from lower LT UST yields in early trading.
    • 10.90 is the next major Res in the 30Y & 10.00 in the 10Y.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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