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Strong open for BTP

EGBS

Another strong open for the BTP, albeit in a tight 10 ticks range (149.90-150.00).

  • We are now testing the psychological future level at 150.00, with 10 year Yield printing another record low of 0.670% on the opening bell.
  • Equities have somewhat recovered from overnight losses, following J&J pausing vaccine study.
  • German 5/30s is leaning bull flatter on the open
  • Some focus today on German ZEW, ECB Knot and de Cos, but these are unlikely to move the needle, with focus squarely on Brexit, Covid further lockdown risks, US Stimulus and Election.
  • SUPPLIES today: Netherland 2027, and Italy 3/7/30s

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