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BTP/Bund spread edges towards May's high

BONDS
  • Italian BTP limits the bounce in EGBs, and as the futures underperforms its peer German 10yr, the spread is widening again, by 5.7bps.
  • The spread now eye the 192.3bps level, May's high.
  • For IKZ3, support is at 110.04, today's low, which represented 4.73%, the 2023 high.

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