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Continues to recover

BTP
  • Continued momentum buying for BTP, up 147 ticks and has now gained 232 ticks from yesterday's low.
  • Not much in terms of technical at current levels, next upside target for the contract is at the 149.60/149.90 gap.
  • The speed of the move in Italy is translating to a tighter BTP/Bund spread this morning, now by 5.5bps, after we traded at widest levels since November 2020 yesterday.

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