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Rates and Govies are seeing elevated flow

CROSS ASSET
  • Some of the best early volumes in Euribor, at least for the last 11 sessions if it carries on at this rate, taking ERH4 as an example since this expiry leads in terms of volumes.
  • Germany is also seeing elevated flow, as well as the BTP, but for the latter, this is more delta edged driven.
  • For the Italian 10yr futures, IKZ3 gaped from 114.69 all the way to 115.30, and extended towards the August high situated at 115.56, but just failed today at 115.52.

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