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Gilt/Bund spread back to flat

BONDS
  • Gilt/Bund spread is back to flat, after widening in early European trade, as Gilt led Govies lower.
  • The 2% yield level in 10yr has so far held.
  • Gilt/Bund spread has found a base circa 100.00bps in March/April, ahead of the support at 99.91.
  • The spread trades at 103.7, with initial resistance seen at 107.49.

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