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Bund moves into oversold territory

BONDS
  • Govies drift lower as Services PMI comes back into expansion territory.
  • Bund challenges the 134.00 figure, but trends into oversold territory.
  • Downside target in Bund is still at 2.574% = 133.60 (December high and highest Yield since 2011).
  • TYH3 is now at its lowest level since November, with support at 110.26+.

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