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Bund and OAT lead EU Govies lower

  • Bund ticks lower, nothing fast, with Bobl seeing 4.7k sold, cumulative volumes.
  • The German leads lower with OAT, and initial small support is still seen at the 133.06 area.
  • A clear break through the latter, would see next support at 133.47, although did print a 133.40 low on Monday.
  • Gilt also edges lower, inline with Bund, translating in a flat spread, and the UK/German 10yr spread still trades within that 190/200bps range.

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