Halister News

(Bloomberg) -- Overall net flows in EGBs last week were relatively modest, Citigroup strategist Saumesh Dutta writes in client note.

• Germany saw the largest net selling in seven weeks but in contrast there was some net buying of the Netherlands
• Demand for 2y non-core is at its strongest in a year; 2y core has rebounded and is now in positive territory
• Euro linkers saw net buying last week after two weeks of net selling
  • Bundei has now seen net buying for five weeks in a row
  • On the curve, demand for 2-5y inflation is at its highest in a year
• Last week, gilts saw the largest net buying in four months, led by the 30y sector after two weeks of net selling
• Linker gilts saw the largest net selling in a year, led by the 30y sector