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Supply slowdown little support for spreads

CREDIT UPDATE

€IG is skewed wider despite a slowdown in supply, low vol in curves ahead of another quiet US macro session - only event of note is permanent voter & relative Dove, Williams, that comes after our close (5:45pm Lon) with livestreamed Q&A. $IG did reverse tighter yesterday afternoon, closing -0.4bps with little change in $IG primary metrics on $8.5b of supply - WTD now within expectations for $35b. $IG ETF flows remain ~flat.

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