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Some modest risk-off early Wednesday...>

BOND SUMMARY
BOND SUMMARY: Some modest risk-off early Wednesday has given core FI a bit of a
lift ahead of the US Fed decision later.
- Re German infl - 5/6 states reporting a M/M CPI of 0.1% (Brandenburg unch).
With the national print having a consensus of unch M/M, it looks as though the
risks lie to a slightly positive surprise.
- Also noting significant OAT futures early roll volume.
-- Latest levels:
* Germany: The 2-Yr yield is down 0.5bps at -0.636%, 5-Yr is unchanged at
-0.581%, 10-Yr is down 0.6bps at -0.357%, and 30-Yr is down 0.9bps at 0.168%.
Dec Bund futures (RX) up 5 ticks at 171.09 (L: 170.79 / H: 171.16)
* UK: The 2-Yr yield is down 1.2bps at 0.528%, 5-Yr is down 0.8bps at 0.489%,
10-Yr is down 1.8bps at 0.693%, and 30-Yr is down 1.7bps at 1.222%. Dec Gilt
futures (G) up 22 ticks at 132.05 (L: 131.66 / H: 132.11)
* US: The 2-Yr yield is down 0.4bps at 1.6375%, 5-Yr is down 0.7bps at 1.6553%,
10-Yr is down 1.2bps at 1.8262%, and 30-Yr is down 1.8bps at 2.317%. Dec 10-Yr
futures (TY) up 1.5/32 at 129-10 (L: 129-06.5 / H: 129-11.5)

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