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Futures are consolidating

BONDS
  • Bund and EGBs are pushing toward session low, as corporate Issuances start to price.
  • Straight done deal likely helping the push lower in Future, with latest flows seeing RXH4 sold in 5k, BTP. 1k, ERZ3 5k, and some spillovers in Equities, with Dax in 1k.
  • All flow related in Govies, and still within ranges, with support in Bund still at 135.06, followed by 134.87, and to the upside 135.89 followed by 136.25.
  • These remain untested.

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