{The EC opened consultation on expanding the scope of the CBAM to cover certain downstream products,...
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SFRU5 95.87/95.75/95.68/95.56p condor, sold at 5.75 in 2k and 5.625 in 10k.
Goldman Sachs write “despite solid auction results and some reduction in bearish pressures from abroad, we still struggle to find compelling reasons to be outright bullish on the long-end. Certainly growth weakness could justify lower yields across the curve, but terminal rate pricing seems reasonable given the information in hand, and the headwinds across diminished hedge value, the lack of fiscal restraint, and potential shifts in the demand landscape remain unperturbed”.
Massive Schatz spread goes through.