Declining BTP-Bund spreads? The market fears that the relief may be short-lived

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“It would be a bit surprising if the market didn’t try to further challenge the ECB,” says Andrew Mulliner, Janus Henderson’s Head of Global Strategies. “There is no guarantee that the ECB will reach an agreement on the new anti-spread shield by July, so we could see new spread widening,” add Capital Economics analysts. “We do not foresee a further tightening of spreads for the moment”, comments Annalisa Piazza of MFS IM. “The situation …

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