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The strip sees some selling interest

SONIA
  • SONIA strips drops just 2 ticks, very minimal, and talking to rate desks, they haven't seen anything obvious, since the move is fairly tiny, and the lack of volumes likely helps exacerbate some of the moves.
  • The move may have been led by a bundle order with the front white and red mostly affected, and the move lacked conviction, suggesting a order related price action.

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