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Core Govies are seeing broader selling

BONDS
  • Bund and wider core Govies have seen further long bailing out after breaking the initial support noted at 136.99 in Bund.
  • There's been some continuation since the latest higher revisions in PMIs.
  • Early hedging needs ahead of supply have also limited any upsides in Futures.
  • Small support in Bund moves back up to 136.59, although the contract did trade as low as 136.25 this week.
  • As a quick side note, this looks to be the best traded volume in Bund for the March contract for this time of the day.

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