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Tested resistance

BUNDS
  • Bund has closed the upside gap, at 157.86 (printed 157.87 high), but lack traction.
  • Volumes are subdued, and most of the action is more centered in the shorter end part of the curve in Schatz and Bobl, with better volumes there.
  • In the 10yr sector, BTP has led the way, and the BTP/Bund spread stands 2.1bps tighter, after it traded at widest level since the 24th February this week.
  • Small resistance for BTP, moves down to 136.25

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