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      Bunds tested sub-1.0% levels – Danske Bank

      FXStreet (Edinburgh) - The German Bunds have tested levels below the 1.0% handle yesterday, commented Arne Rasmussen, Chief Analys at Danske Bank.

      Key Quotes

      “Yesterday 10y Bund yields for the first time briefly traded below the psychologically important 1% level”.

      “The support to Bunds not only reflects geo-political concerns but certainly also concerns that the growth and inflation outlook for the euro-zone have weakened and that the zero growth in Q2 is only the beginning of a longer period of lacklustre growth that will secure low rates for a prolonged period of time”.

      “Strong demand with a high bid-to-cover at the 30y treasury auction in the US gave further support to global bond markets”.

      Turkey 3mth quarterly jobless average fell from previous 9% to 8.8% in May

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      Poor Eurozone GDP data suggests recovery stalled - ING

      Peter Vanden Houte, Chief Economist at ING, suggests that despite the disappointing Eurozone GDP numbers for the second quarter of the year the ECB will probably remain on hold until teh end of the year.
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