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Rates Spark: Hawkish sentiment helps the long end stay anchored

Oil prices are settling on lower levels with the Memorandum of Understanding having been signed. While it is only the start of a lengthy negotiation process, market optimism seems to outweigh any lingering concerns for now. Central bank rate expectations had already started to decouple from the level of oil prices earlier, but Thursday did see the floor that markets see for the European Central Bank rate reasserting itself. [...]