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5/30s targets January peak

BUNDS

Bund look at breaking out lower on the cash open, after Equity recover some of their losses.

  • Curve 5/30s is pushing through another multi month high, and we now target the January peak at 84.808.
  • Technically for Bund, risk remain tilted to the downside with the 174.00 area in focus. A combination of tech and yield levels..
  • Main focus today is on National European PMIs
  • Bund are now dragging Treasuries lower with 4k sold in TY and 1k in US, pushing the curve steeper across the pond.

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