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Rate led move helps Govie Futures drifting lower

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  • Bund drifts to session low, OAT follows to also touch its intraday low, initial leg lower seems to be Rate led, with broader selling in the Euribor strip.
  • Investors are likely adjusting positions and hedges ahead of the ECB.
  • There's nothing too big in terms of flow, and contract still trades within Yesterday's ranges.
  • Small support in Bund moves up to 134.81, followed by 134.43.
  • No real spillovers in Treasuries as of Yet.
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  • Bund drifts to session low, OAT follows to also touch its intraday low, initial leg lower seems to be Rate led, with broader selling in the Euribor strip.
  • Investors are likely adjusting positions and hedges ahead of the ECB.
  • There's nothing too big in terms of flow, and contract still trades within Yesterday's ranges.
  • Small support in Bund moves up to 134.81, followed by 134.43.
  • No real spillovers in Treasuries as of Yet.