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Some focus on supplies

BUNDS

A fairly tight open for Bund, and really low volumes for this time of the day, running at around 40%.

  • Curve is flat and on the margin peripheral are a touch tighter, with Portugal leading 1bp.
  • Some focus on supplies this morning, with Germany selling EU4bn 0% 2027 (equates to 19k Bund)
  • Next up on the calendar, ECB Panetta speaks in Video statement at 08.15BST

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