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Steepening bias unwinds

BONDS
  • With the Buxl back towards the 127.00 figure, the German Curve unwinds its steepening bias, and 5s/30s is back at session low.
  • That part of the curve printed its flattest level since late Sept on Tuesday, with a print of 16.831, now trading at 18.60, from a 21.096 high today.
  • Support in Bund noted at 130.13 has held for now, although did print a 130.11 low.

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