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Continued unwind

BONDS
  • Govies, Treasuries continues to unwind some of the big sell offs.
  • Italy and the BTP lead.
  • Peripheral spread remains tighter, with Greece in the lead now, by a massive 32.8bps.
  • Some likely position squaring, covering some shorts in Treasuries ahead of the awaited FOMC and presser.
  • Initial resistance in TYU2 is seen further out, towards 115.23+.

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