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Takes another leg lower

BUNDS
  • Bund continues to crash lower, and not much in terms of tech at current levels.
  • In Yield, next upside target is at 1.093% the 18th May high.
  • On that day, the future printed a 151.89 low.
  • Today, reference 152.72, 1.093% would equate to 152.01.
  • Tnotes/Bund spread is now 8bps tighter and testing that immediate support at 169.05, noted earlier, now at 169.06bps

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