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Finding some support

BUNDS
  • Bund is still finding some support at 135.66, did print a 135.60 low, with heavy supply keeping the lid on the contract, but the downside is still limited as investors await the EU CPI.
  • There's been some pick up in the spread, but still below pace, around a quarter of the front month volume is attributed to the roll vs what we see in Schatz, where half the volume is spread related.

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