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Curves are unwinding

BUNDS
  • Earlier Block trade in Bund, keeps the contract offered and the shorter end Schatz look to outperform 10yr and 30yr, after the 2yr Futures was initially weighted by the German supply.
  • The curve is now seeing some small reversal after trading flatter, 2s/10s and 2s/30s recover from their printed low.

Next support in Bund is still seen at 132.76, and looking at the 10yr Yield, reference 133.17:

  • 2.361% = 132.75.
  • 2.392% = 132.43.

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