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Super volatile start for BTP futures....>

MARKET TALK
MARKET TALK: Super volatile start for BTP futures with the contract already
trading a 140 ticks range, but back to flat on the day.
- The Covid-19 and Italy lockdown going nationwide has kept the BTP risk tilted
to the downside.
- Although expectations are still fairly split across the the street, some are
floating the idea of QE from the ECB this week, which would benefit the
contract.
- Overnight, Trump floated a payroll tax cut and fiscal stimulus which is seen
by some as a more potentially impactful way to go as opposed to pulling the
bazooka on rates. This seems to have stem the bleeding in equities for now.
**NO SET time on the announcement from Trump on the final fiscal stimulus and
tax cut package, but it is expected sometime today.

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