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Extends bull flatter

BUNDS

Pretty similar price action the last couple of days in the German curve.

  • Will the day repeats itself? (see chart)
  • Once again we start the session bull flatter, with longer end favoured on FTQ.
  • This is in turn keeping the EUR better offered on German Lockdown and vaccination pace concerns
  • MNI tech, Bund outright resistance comes at 172.20 High Mar 11 and the bull trigger
  • For 5/30s, resistance comes at Friday's high and highest level since July 2019. Above the latter sees 12/07/2019 high at 97.428
  • But for now the curve is at session low.


German 5/30s.

Chart source: Bloomberg

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