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BTP TECHS

(Z1) Gains Considered Corrective

GILT TECHS

(Z1) Extension Lower

SCHATZ TECHS

(Z1) Needle Still Points South

SNAPSHOT

PBOC Provides Liquidity Boost

BOBL TECHS

(Z1) Fresh Trend Lows

BUND TECHS

(Z1) Bearish Price Sequence

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  • Bund once again test below the -0.5% yield, printed as low as -0.515% yesterday (177.52 in futures).
  • The contract has closed the opening gap to 177.26.
  • Technically, desk will look at yesterday's high as initial resistance.
  • And a clear break through the latter would open to 177.69 1.764 proj of the May 19 - Jun 11 - Jun 22 price swing.
  • Although this might be limited, with ALL EYES on NFP tomorrow.
  • In term of yields, further downside opens to -0.567%. Which reference 177.25, would equate to 178.31.

Chart source: Bloomberg