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Tnotes/Bund spread targets the November 2019 high

BONDS
  • Continued widening in the Tnotes/Bund spread, by 3bps today, with investors paring rate cut bets in the US for 2024.
  • The spread now eyes a test to 220.5bps, the November 2019 high, and the widest print since early October 2019.

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