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BTPs found their bottom pre-Lagarde?

BTP
  • BTPs seem to have found some support, hitting a low of 139.32 shortly after North American began to arrive at their desks. Since then we have moved as high as 139.84 (which is just below the previous support of 139.87 which marked the 50% retracement of the 2020 - 2021 bull cycle. We are now trading at 139.74 with the next support at 138.09, the 1.50 projection of the December 14 - January 19 - 31 price swing.
  • We await ECB President Lagarde later to provide clarification for the next leg, after these moves were initially spurred by comments over the weekend from Knot.
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