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USTs have weakened this morning with...>

BOND SUMMARY: USTs have weakened this morning with yields broadly 2-3bp higher
across the curve. TYZ9 currently trades at 131-15+ and near the bottom of the
day's range.
- MNI interviewed the ECBs Lautenschlager, who has stated that there is no need
for more QE and the positive effects of more rate cuts are unclear.
- German bunds trade close to unch on the day. Current yield levels: 2-year
-0.915%, 5-year -0.909%, 10-year -0.699%, 30-year -0.179%.
- Italian BTPs continue to rally on the assumption that a market-friendly
government will soon taker over. The belly of the curve has outperformed with
the 5-year benchmark yield down 6bp.
- An attempt to block UK Prime Minister Boris Johnson's plan to suspend
parliament has been denied by a Scottish court. This is likely to be the first
of several challenges to the government's prorogation effort. Gilts trade
slightly softer with yields 1-2bp higher.

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