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Core Govies are edging higher

BONDS
  • Low liquidity helps exacerbate some of the early moves in Govies, with the only notable flow seeing a 1k buyer of BTP.
  • These are all mostly order related light flows given the lack of traction in the push higher in futures.
  • Bund resistance is still at 133.21, while the 10yr Yield has already broken the July low.
  • In Yield terms, the next support target is at 2.342%, the June low and the lowest print since mid April.

Today reference 132.87:

  • 2.342% = 133.36.

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