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Keep an eye on France vs Germany

BONDS
  • Spanish 10yr Yield moves above the US 10yr, while in core, besides the Tnote/Bund spread and the key psychological 100.00bps level, now trading at 102.7bps.
  • Also keep and eye on the OAT/Bund spread , which has breached the 2023 peak and now target next immediate resistance at 57.32bps, the 76.4% retrace of the August/January fall.

Chart source: MNI/Bloomberg

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