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Outperforms in EGBs

BTP
  • BTP continues to trade on the front foot, and that's now 218 ticks gains since the 19/05.
  • BTP/Bund spread has now tightened from a May's high at 122.5072bps to 113.00bps today.
  • The futures contract has gaped up from 146.08 to 146.29 on the open.
  • Technically, next upside target comes at 146.84 Low Feb 26 and recent breakout level
  • In yields term, support comes at 0.930%, which would equate to 147.12


Chart source: Bloomberg

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