Sergej RybalkoSergej Rybalko , FX Dealer, Saxo Bank
Denmark, 09 October 2012 at 08:04 GMT+0
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EUR: market seems a bit puzzled with this sell-off in eur/usd. Loads of speculation doing the rounds at the moment. Spain disagreeing with bailout terms, Greek creditors not able to agree on repayments, European CB selling are the most popular explanations right now. What is real is the quite hefty pop in German bunds. Also, Spanish 10y yields seem to trade ard. 30 bp higher. However, take the latest reason with a pinch of salt as there is talk that yesterday BBG has changed the benchmark for it's Spanish 10y generic yield.

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Saxo Bank provides an execution-only service. The material on this website does not contain (and should not be construed as containing) investment advice or an investment recommendation, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Saxo Bank accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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