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Bund fades back to session low

BONDS
  • Back to session low for Bund, after ticking higher earlier, mostly led by the US Treasuries, with decent early Volumes for the US contracts.
  • The price action supports that the early movement was mostly unwound of Yesterday's sell off, and likely squaring flow, with no new news crossing this morning.
  • US Treasuries futures outperforms its European counterpart, with BTP leading lower in EGBs, as the Heavy Italian supply keeps the lid on futures.
  • Bund initial support remains at 129.50.
  • Support in TYZ3 is at today's low, 107.10+.

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