On Thursday, markets got into a lower gear


Markets: Fixed Income On Thursday, markets got into a lower gear, as US participants enjoyed the Thanksgiving holiday. So trading slowed (thin volumes), but the underlying tone didn’t change (risk aversion). Intra-day, the Bund opened weak in follow up selling that was initiated on Wednesday after the ugly Bund auction. Equities, that opened strongly, might have played a role too. The IFO survey showed a broad stabilization of sentiment instead of an expected deterioration. Equities jumped

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