Unicredit: Fixed Income View

Quotes from Unicredit

• We expect hopes for a lot of detail on the ECB's expanded APP to be disappointed and the impact of today's press conference likely to be neutral.
• The expected upward revision of GDP highlights that real rates trading in negative territory appears absurd under pure fundamental considerations but with the APP starting at any time, there is little doubt that highly supportive supply-demand issues remain in the driver's seat for the time being.