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Bonds unwind some of yesterday and overnight sell off

BONDS
  • US treasuries continue to unwind the big sell off, with TYU1 testing lowest levels since 20th May overnight.
  • The US move helps Bund back towards the 172.00 figure, but plenty of supplies in Europe this morning should limit momentum into respective duration, into the bidding deadlines
  • Small resistance in TYU1 moves down to 131.28
  • Bund sees 172.25 initially.

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