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  • A generally weaker session for risk assets yesterday with the UK and US markets finishing in the red, while Europe outperformed with a marginal gain.
  • We are issuing a research note on Permanent TSB in which we have increased our multiple derived price target to €2.45 from €1.90. However, as this only implies 9% upside, we reiterate our Hold recommendation on the stock.
  • Core bond yields moved lower yesterday on the back of weaker US jobs data.