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EGB/Gilt- Multi year highs for Yields

BONDS
  • Yields rises to multi year highs, and markets have once again traded in wide ranges, but volume have been way below averages.
  • This has been the trend for the past six sessions for Bund.
  • Another 120 ticks range for the German 10yr, which pushed yield to the highest level since November 2018.
  • Next upside target is at the 08/11/18 high, 0.468%, which today, would equate to 159.98.
  • BTP followed suit, and briefly traded below 139.00Target in Italian Yield is the 2022 high at 2.001%, which was also the highest print since May 2020.
  • The 2.001% would equate to 138.79, which will be seen as the next area of interest.
  • Gilt have led to the downside and sits 134 ticks down at the time of typing.
  • Gilt/Bund has in turn widened by 5.5bps.
  • Looking ahead, ECB Nagel and Fed Powell are the remaining speakers.
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