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Further upside traction

BONDS
  • Bid in Govies are taking hold across the board.
  • The miss in French CPI, has set the tone, and some desks are also likely taking some shorts off, ahead of the Italian prelim CPI, and the awaited EU prelim CPI.
  • Month/Quarter end, "could" be at play (front running), but flows are expected later this afternoon.
  • Note, that Bond extensions are ok, average for the EU and the US, and huge for the UK.

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