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Gilt/Bund spread wider by 3bps

BONDS
  • The underperformance is Gilt future keeps the Gilt/Bund spread wider by 3bps, and still testing the 110.5bps area.
  • These are the widest levels in a Month (since 24th Jan), and next resistance is seen towards 116.00bps.
  • For Gilt future, desk will look at yesterday's low for support at 100.94, but support area is seen at circa 100.79, which equate to 3.7% in 10yr Yield.

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