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Supported By Decent Long End Auction Demand & Pullback From Highs In Equities


Decent demand at the latest round of long dated German supply has allowed Bund futures to firm to best levels of the day during the last hour, with the contract last +35.

  • Bulls failed to force a meaningful move through yesterday’s high, before the contract nudged away from best levels.
  • The major German cash benchmarks run 2.0-3.5bp richer vs. closing levels, with the curve still a little steeper on the day, albeit back from session extremes post-supply.
  • Equities moving back from best levels will have also aided FI.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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