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BTP futures hit another all-time high

BTP

BTP futures have been on the front foot again this morning and have moved through yesterday's all time high of 151.46.

  • Out technical analyst points to the next resistance at 152.00.
  • 10-year spreads to Bunds have also continued to tighten and are 0.6bp tighter on the day at 116.7bp.
  • We are not far at all now from the August 2016 and April 2018 double bottom of around 112.8bp.
  • The next major reference point is the March 2016 level around 102bp.
  • Our technical analyst notes that all trend conditions are still pointing to a continued move lower.

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