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    A fight to safety was the theme, dollar benefits majorly - ANZ

    Analysts at ANZ explained that a non-committal Fed, a hesitant BoJ, SNB and BoE and more polls showing that the ‘Leave’ campaign is in the ascendancy in the Brexit vote drove a continued flight to safe haven assets.Key Quotes:"Apart from the yen, the dollar was a major beneficiary and the flight to safe haven assets continued.""The yield on the 10-yr bund fell to a low of-2.5bps and interest rate compression and the broader geopolitical implications of the UK leaving the EU weighed on bank stocks in particular.By the close of play, the Dax was down 0.6%, FTSE down 0.3%, and the peripheral bond spreads continued to widen out.For example, the spread between German bunds and Portuguese 10 year bond yields widened by around 8bps to 341bps.UK sovereign CDS have risen to 42bps from 33bps a week ago. Gold rallied and crude oil prices fell, with WTI futures at USD46.50 at 6:30am NZT.US 10yr bond yields continued grinding lower, but are off their intraday low (1.516%)."


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