1452 GMT - Investors should consider buying Germany's August 2034 Bund at a -7.6 basis point asset swap, targeting -17 basis points and a stop-loss at -2 basis points, Santander CIB's Antonio Villarroya says in a note. Current asset swap levels are consistent with a scenario of massive bond supply, he says. "That means that it would take Germany adopting a very sizable increase in its deficit targets for next year to make current market levels sustainable in 2025," the bank's head of G-10 macro and fixed income research says. This is very unlikely, he says. Instead, the most likely scenario is between a minor increase and a moderate increase in supply, Villarroya says. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
November 29, 2024 09:52 ET (14:52 GMT)
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