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Govies and Rates recover from the lows

CROSS ASSET
  • Not seen a clear trigger or obvious driver for the bounce in Govies, Bund Treasuries, Gilt, BTP, OAT are all gaining.
  • Similar bounce is Rates, with Euribor and Eurodollar strip reversing losses, SONIA strip lags though.
  • A little perplexed, with little action in Equities, while WTI spikes towards $95.
  • Resistance in Bund moves down to 151.03 initially.

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