US POWER: EdF Extends Outage at 1.3GW Nogent 2 to 8 Feb

• The underperformance in Bund Futures weighted by the German supply, limiting any type of upside in early trade has pushed the Tnotes/Bund spread another 1.7bp tighter in early trade.
• The big US Data beat and how the Fed will proceeds on its rate, will be watched by the ECB going forward.
• The Tnotes/Bund spread has tightened from a 226.87bps December peak to 216bps now, its lowest level since Mid December.
• Further tightening bias, would see test towards 209.4bps.

(Chart source: MNI/Bloomberg).

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