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Bund leads Europe and the US higher

CROSS ASSET
  • Bund is still leading higher in Europe, helping {us} Treasuries to session high, latest flows, sees 5k TY cumulative buyer and 3k in FVA.
  • The push higher in Futures (lower Yield) is helping the USDJPY through a new intraday low.
  • Support comes at 148.22, but USDJPY would need a test down all the way to 147.22 to reverse Yesterday's US retail sales/IJC beat.

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