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SAGBs Trim Weekly Losses But Remain On the Backfoot as Energy Prices Surge

  • SAGBs open firmer this morning with yields dipping -7.4-13.3bp in early trading, having sold off sharply yesterday.
  • Yields rose +24.9-30.5bp across the curve with the 10Y most offered on the day. Both 10 & 30Y tenors surged beyond their 26 Nov highs as upside pressures in oil markets stoked inflationary fears and risk off dented demand for risk assets across the board.
  • 10Y levels: Sup1: 10.414, Sup2: 10.23, Res1: 10.71, Res2: 10.80. 30Y levels: Sup1: 11.07, Sup2: 10.971, Res1: 10.357, Res2: 10.475.

MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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