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Very volatile price action

BONDS
  • Quite a volatile fast markets price action in Govies, and given the divergence between the US and Germany following the ECB hike, the Tnotes/Bund spread is over 7bps wider with the next upside target seen at the 172.41bps level, the August and the 2023 widest level.
  • In rate the front end white strip in Euribor remains offered, but the strip is flatter, as the red, green, blue strip stays bid and in the green.

Chart source; MNI/Bloomberg

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