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German Lockdown Inspires Caution

CROSS ASSET

The news that German Cll'r Merkel & regional leaders decided to put the country under a drastic lockdown over Easter has provided a fresh headwind for riskier assets.

  • E-minis are marginally mixed, NASDAQ 100 futures trade in the red. DAX & EUROSTOXX 50 futures are both lower.
  • T-Notes have extended their recovery and last sit at 131-18+. Bund futures (RXM1) have moved away from session lows and last trade at 171.58.
  • JPY has picked up a bid and comfortably outperforms all of its G10 peers, although EUR holds up well.

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