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BONDS: Italian Futures are keeping EGBs under pressure

BONDS
  • The Italian BTP is helping EGBs take another leg lower, there's also likely been some interest in fading the BTP/Bund spread ahead of the 100bps level Yesterday and into Today.
  • Looking at the outright future, some will look for next support below the figure at 118.65 (24th Jan low).
  • In Yield terms, that 24th January high of 3.682%, equates to 118.72 Today.
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  • The Italian BTP is helping EGBs take another leg lower, there's also likely been some interest in fading the BTP/Bund spread ahead of the 100bps level Yesterday and into Today.
  • Looking at the outright future, some will look for next support below the figure at 118.65 (24th Jan low).
  • In Yield terms, that 24th January high of 3.682%, equates to 118.72 Today.