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Italy leads the recovery in Futures

BONDS
  • BTP futures is still leading in EGBs, helps Bund make an attempt to print a new high.
  • Resistance in Bund is at 131.16, Yesterday's high.
  • BTP/Bund spread tightens by 2.8bps, with the next upside level in the spread still intact at 175.93bps, the July high.
  • BTP sees 113.64, Yesterday's high, as the initial resistance
  • Desk have favoured fading some of the sell offs, as we neared some decent Tech levels, especially in Tnotes.

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