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BONDS
  • BTP test immediate support at 113.71 50.0% retracement of the Mar 2 - 24 rally.

Further out, sees 113.22 Low Mar 15.

  • Gilt is testing the 102.00 handle, and we are trading at the lowest levels since the 10th March.

More downside traction, would open to 101.12 76.4% retracement of the Feb 28 - Mar 20 rally.

  • Next support for Bund is at 133.80 area, and below the latter, 133.33 (Mar 15 low).

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