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Euro Debt Issues Lose Opening Gains

Posted:24/11/2008 10:53 by Oliver Scott
The German Ifo came in weaker than expected, but it seems to have been a case of buy the rumour sell the fact as both Bund and Gilt futures lost opening gains after the release and moved into negative territory. Bunds are outperforming Gilts, however, as the weak Ifo number fuels hope of a 100 bp cut from the ECB in December. As of 9:49GMT the December 10-year bund future is down 7 ticks on the day at 120.64, while the corresponding Gilt future is down 15 ticks at 116.68. In the cash market the 10-year Bund yield is up 1 bp at 3.35% and the corresponding Gilt yield is up 2 bp at 3.87%. click here to return to the top of the page
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