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Curve lean bear steeper

BUNDS

Bund is still slowly drifting lower, testing initial small support here at 174.38.

  • A break through would open to 174.19, the 23.6% retracement of the Feb 25th- March 2nd consolidation move higher.
  • Spread volume have picked up somewhat, with 37k outright, but given 71k lots in the June contract, likely a few have been done on legs

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