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Small extension higher

EGB FLOWS

Small leg higher in Core and semi core, despite risk tilted to the upside.

  • Curve starts to lean flatter, albeit within tight ranges still.
  • Bund, BTP, Gilt and OAT test high of the session, but US treasuries are unmoved.

MNI quich tech:

  • Bund resistance is seen towards 178.77 High Dec 11
  • Gilt at 135.51 High Dec 14
  • BTP is testing immediate resistance at 152.36 High Dec 10 (printed 152.39 high).
  • Above here opens to 152.48 176.4% retracement proj of the Nov 30 - Dec 1 sell-off

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