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BOBL TECHS

(M1) Bearish Breakout Cemented

USDJPY TECHS

Fierce Bounce, But Needs to Stick

BUND TECHS

(M1) Takes Out Key Support

EURUSD TECHS

Taking on Weight

EURGBP TECHS

At Risk of Bearish Breakout

GBPUSD TECHS

Key Resistance Exposed

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EGBs have stayed within this morning range this afternoon.

  • BTP has been the notable under performer, slowly drifting lower,
  • The contract tested yesterday's low and initial support at 147.44. (printed 147.41 low)
  • Main initial targets is still eyed at the 0.842% yield, the 2021 peak and highest since 01/10/2020, which equates today (ref 147.66) to 147.29.
  • German curve is flat, while Italy spread trades 2bps wider at the time of typing.
  • Looking ahead, most desk await on the FOMC tomorrow, but still some focus later on further tech stocks earnings, with Texas Instrument, Visa, Alphabet, Microsoft, Starbucks, still left for today.
  • Bund futures are down -0.07 today at 170.76 with 10y Bund yields up 0.1bp at -0.253% and Schatz yields up 0.1bp at -0.694%.
  • BTP futures are down -0.25 today at 147.58 with 10y yields up 2.1bp at 0.819% and 2y yields up 1.8bp at -0.325%.
  • OAT futures are down -0.11 today at 161.35 with 10y yields up 0.6bp at 0.089% and 2y yields down -0.5bp at -0.661%.