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Sees lower breakout

BUNDS

Not seeing a clear trigger, but some pick up in selling volumes in Bunds and BTP here.

  • Some 34k bund sold in the past 8 minutes.
  • Likely short term long bailing out, positioned into Month End.
  • France also re opening in stages from May 3rd is putting the hope of a Summer boom back on the table.
  • In terms of technical in Bund, very little at current levels.
  • MNI tech support is seen much further out at 169.24 Low Feb 24 and major level
  • Also worth noting that the 10yr yield 2020 peak at -0.14%, would equate today (reference 170.00) to 169.11 in futures

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