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Looking at Yield levels

CROSS ASSET
  • Bund has so far found support in futures, just short of the 1.35% Yield, printed 1.341% high.
  • Euribor are also leading with the shorter end part of the Govie strip 2s and 5y (Schatz, Bobl).
  • ERU2, ERZ2 and ERH3 are under considerable pressure.

Looking at German 2yr Yield, reference 108.96:

  • 0.75% = 108.88
  • 0.80% = 108.79

Next upside target in 5yr Yield (Bobl), is at the 2013 peak and highest print since December 2011.

  • Reference 123.80, 1.123% would equate to 123.56 today.

In Treasuries, TYU2, need to break 117.31+ to open the path to yesterday's low at 117.22+ initially.

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