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Short end unwinds some of the sell off

CROSS ASSET
  • EURCHF moves off the low, after nearly testing 1.06366, yesterday's low and lowest level since July 2020.
  • FX and Equities have been fairly steady, with all the action in short term Rate, as investors reprice rate hikes outlook.
  • Short end are unwinding some of the sell off, March 2022 short sterling was down 20 ticks at one point, now just 9 ticks.
  • ECB was mostly seen as a non event, but given some of the moves in Euribor, this could become an ALL EYES.

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