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Bunds, Gilts Extend Session Lows On Israel-Gaza Invasion Delay

BONDS

Bunds and Gilts extend session lows on WSJ reporting that Israel has agreed to delay a ground invasion of Gaza - though have bounced a little amid some mitigating factors (the delay is reportedly to provide time for the US to move missiles into the region to defend American troops).

  • Bunds have tentatively moved through support at the 128.22 Oct 24 low with the knee-jerk move seeing a session worst level of 127.91. This bearish development if sustained would see next key support at 127.18 (Monday's low).
  • Gilts have held on to the 92.00 round number for now (92.03 session low), though the downtrend remains intact, with the Oct 23 low of 90.85 next up on the downside.
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