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OAT/Bund spread test the April high

BONDS
  • Focus is back on the OAT/Bund spread, now tilting 1bps wider, and again testing the April high at 57.10bps.
  • The Latter is also the widest print since October, and further widening continuation will have investors looking for the Psychological 60bps next for potential resistance.

Above these levels:

  • 62.42bps the June/Aug/Sep triple top.
  • 64.58bps the 2020 peak and widest print since April 2017.

Chart source: MNI/Bloomberg

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