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Widening A Touch Vs. Bunds, With ECB Pricing & Supply Weighing

BTP

The previously outlined jump in the major metrics within the latest ECB consumer inflation expectations survey also helps BTPs away from best levels of the day, more than unwinding the early rally, as 10s widen a touch vs Bunds the spread holds (within the recent range) and ECB-dated OIS firms a little. Benchmark BTPs generally sit 2-3bp cheaper across the curve and futures are now in the red. Hedging ahead of today’s auctions will also be providing some weight across the curve.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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