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Selling continuation

BONDS
  • Momentum selling in good size in BTP another 1k sold, cumulative volumes.
  • BTP/Bund spread widens by 5.7bps now, and widest since the end of October 2020.
  • IKZ1 support is now at 147.51 1.382 proj of the Sep 23 - Oct 6 - 14 price swing
  • BTP has now lost a massive 442 ticks since 27th October.
  • Bund is through the intraday low, with initial support seen at Friday's low 167.71, ahead of the more important 167.50 ( the -0.05% yield resistance)

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