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Bund tests the intraday high

BUNDS
  • Bund is slowly edging back towards flat on the session, now testing its overnight intraday high of 136.81.
  • Intraday short cover, cash buyer and receiving flows have likely helped, but volumes are still on the lower side, especially in Rates, Euribor strip.
  • Latest Bund basis trade suggest cash buyer, RXH4 1.5k at 136.70.
  • It's a busy day for issuance, and some of the deals will likely be swapped for today.
  • Initial resistance in Bund is still at the 137.14/137.17 area.

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