ANZ bank out with their latest client note
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efxnews.com
The expectation of ECB policy easing has obviously been positive for
euro area fixed income markets. Yields on short-dated notes are at
record lows and the medium to long end of the market has been very well
supported.
As the curve has flattened, EUR/USD has tended to weaken. In part that
reflects portfolio diversification out of low yielding euro area assets.