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WTI TECHS

(M1) Back Toward Week’s Lows

EURJPY TECHS

Needle Still Points North

BTP TECHS

(M1) Downtrend Accelerates

GILT TECHS

(M1) Key Support Zone Exposed

USDJPY TECHS

Fierce Bounce, But Needs to Stick

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The $62B 7Y note (91282CBZ3) auction came in close to on the screws with high yield of 1.306 vs. 1.305% WI.

  • Bid-to-cover: 2.31x well over 2.25x 5 month avg, and highest since Dec'20.
  • Indirect take-up near the 5 month average of 57.02%, at 57.07%. Primary dealers take-up 22.33% well below 25.26% 5 month avg (compares to February's high of 39.80%.) Direct take-up picks up to 20.60 vs. 17.99% last month after surging to 22.13% in February.
  • The next 7Y auction is tentatively scheduled for May 27.