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Some short cover going through

CROSS ASSET
  • Some short cover as we head into the later part of the European session, with Govies not only reversing some of the ECB selling, but resuming their latest price action on safer haven flows, on the back of Bank credit concerns.
  • Front ERM3 was bought in 5k, Gilt 1.5k, BTP 1k, US TYM3 10k.
  • Some profit taking in Emini, bought in over 10k.

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