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Softer & Steeper To Start

EURIBOR

Early trade this week sees Euribor futures come under light bear steepening pressure alongside a drift lower in Bund futures.

  • That leaves the contracts running flat to -4bp through the blues.
  • Spread activity has provided some interest, as we have already flagged.
  • The weekend saw ECB President Lagarde reiterate that the Bank is determined to return inflation to target, pointing to the latest batch of economic forecasts re: the trajectory for the expected move. She also played down the impact of political spill over from the Bank’s policy choices. None of that will be particularly market moving.
  • The ECB speak outlined elsewhere headlines the Eurozone docket to start the week, with final services and composite PMI prints, as well as Sentix investor confidence data, also due.
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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