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Bund are extending gains and testing the......>

BONDS: Bund are extending gains and testing the figure here, with a small unwind
in Equities. Further gains should still stay limited ahead of the German Auction
at 10.30BST (into the bidding deadline), when Germany Sells EUR 4 Bln of 0%
**Still worth remembering that we have Large Month End for EU and US, so Bund
and Tnotes should remain underpinned and better bid post supplies.
**Posted yesterday: BARCAP: Bloomberg US month-end index
-US Tsys      +0.13yr (decent/large) 
-Pan Euro Agg +0.18yr (large) 
-Sterling Agg +0.01yr (tiny, non event).
Some of the Month End gist of potential re-balancing out of Equities back into
govies could make some sense. Regardless, there's decent Month End for US and EU

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