In the wake of the landslide victory for PM Anthony Albanese and his centre-left Australian Labor Pa...
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With global markets settling after a volatile ~60 minutes of (erroneous) headline-driven trading, ECB implied rates remain off session lows alongside core EGB yields. The 1y1y ESTR swap rate is nonetheless still on track for its lowest close since December 11, 2024, currently at 1.71%. That’s down from a close of 1.90% at last Wednesday's close (i.e. before the "Liberation Day" announcement), and also well below the 1.83% seen on February 28 (i.e. before the German defence/infrastructure announcement).
Bund futures have more than reversed the sell-off attributed to an erroneous rumour that US President Trump was considering 3-month delay to tariffs on countries excluding China. That leaves futures -27 ticks lower today at 130.25, having briefly traded as low as 129.11.