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Futures Through Next Resistance

GILTS

Fresh session lows for S&P 500 e-mini futures and a move higher in the VIX leads to fresh session highs for gilts as risk-off trade continues to dominate.

  • Futures through next resistance at 101.18. Further extension higher would target the 2.236% projection of the May 29-Jun 4-10 price swing (101.78).
  • Yields 7-12bp lower, bull steepening theme intact.
  • 2s breach 3.50%, with the April 12 ’23 low (3.397%) providing the next area of interest.
  • 10s move close to 3.75%, with the Feb low (3.726%) providing the next point of note there.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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