HALISTER1: EGB Flows Show France Led Core Buying Last Week: Citigroup

EGB Flows Show France Led Core Buying Last Week: Citigroup

(Bloomberg) -- Net buying of core EGBs for an eighth consecutive week was led by France last week, Citigroup strategist Aman Bansal writes in client note.
  • France saw the ninth week of positive demand
  • Demand for non-core was largely flat overall, but Italy is seeing dip buying
  • Euro linkers saw small net buying last week, led by Italy and France
  • Germany saw net selling last week after five weeks of net buying
  • Linker gilts saw net selling for a second consecutive week, taking the 4-week average to its lowest level in a year
    • Net selling was concentrated in the 30y+ sector following the IL56 syndication announcement
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Source: BFW (Bloomberg First Word)

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Aman Bansal (Citigroup Inc)

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