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BTP and EGBs bounce off their lows

BONDS
  • BTP bought in 1k, with the heavy supply out of the way.
  • Bund small support seen at 134.16 has so far held, and after some early widening in the Italian/German 10yr spread, it is leaning back towards flat (0.5bp wider).
  • EGBs and Bund spilling overs into Treasuries, FVA bought in 2.5k, USA 1k, TYA 3k as the US starts to join the session.

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