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Equities are through intraday lows

CROSS ASSET
  • Equities are also coming under pressure, helping the broader base bid in USD, as well as higher Yields.
  • Also Month End, favours some USD buying, which could also be at play.
  • Europe has led the way following the French, Italian and EU CPIs beat this morning.
  • BTP has caught up with Bund, bringing the BTP/Bund spread back below the 200bps handle.
  • Support for TYU2 is seen at 119.03
  • Bund test next immediate support right here at 150.49 (9th May low).

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