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Consolidate higher

BONDS
  • Continued push higher, no new headline, purely rate related move, as contracts unwind some of the massive sell offs.
  • Bund lost 1,177 ticks since the 7th March.
  • Some squaring into Month/Quarter end.
  • The Short end 2yr and 5yr still lead, curves in US and UK all lean bull steeper.
  • Short end, leads the shorter end Euribor back to session high on the back end strip Red/Greens.
  • Next resistance in Bund is at 158.67 High Mar 28
  • Tnotes is seen further out, to 123-12 High Mar 23

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