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Pulling back from intraday highs

BONDS

  • After the huge rally this morning, core FI now some way off its intraday highs (albeit still significantly higher on the day). Doesn't seem to be any headline trigger at this stage for the pullback.
  • TY1 futures are up 1-05 today at 114-09+ (from peak of 114-29+)with 10y UST yields down -13.4bp at 3.567% and 2y yields down -33.2bp at 4.257%.
  • Bund futures are up 1.83 today at 135.56 (from peak of 137.02) with 10y Bund yields down -20.5bp at 2.299% and Schatz yields down -29.8bp at 2.784%.
  • Gilt futures are up 1.59 today at 104.06 (peak of 104.95) with 10y yields down -18.6bp at 3.451% and 2y yields down -23.4bp at 3.394%.

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