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Bund has closed the opening gap

BONDS
  • Bund has just closed the 127.79 opening gap, unwinding some of the pressure in Futures market.
  • As noted during the European morning session and into the US session, selling orders were met by big bids, as Yields tested new 16yr highs in the US, and similar move in EGBs (OAT, BTP).
  • A clear break through that area in Bund would open back to 128.28 initially.
  • The Bounce in Treasuries remains limited, and still off their highs, and now met by sellers, TYA in 6kk, FVA 5k and USD just over 2k.

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