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Are back at the upper end of the ranges

BONDS
  • Some short term play short cover, push Govies at the top of their ranges, with supplies also out of the Way.
  • Tnotes are getting dragged by Europe as the US starts to come in.
  • This is translated in a flat TY/Bund spread, just 0.2bp wider.
  • Resistance in Bund is at 171.24 High Nov 5, but see better at the next yield support -0.239% circa 171.37 area.
  • TYZ1 sees resistance at 131.23+, ahead of yesterday's high at 131.30+

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