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BTP TECHS

(U1) Needle Still Points North

ASIA RATES

China Repo Rates Creep Higher

GILT TECHS

(U1) Still Needs To Tackle Recent Highs

SCHATZ TECHS

(U1) Northbound

BOBL TECHS

(U1) Bullish Theme Dominates

BUND TECHS

(U1) Trend Conditions Remain Bullish

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  • RES 4: 133-11 1.236 proj of Apr 29 - May 7 - May 13 price swing
  • RES 3: 133-06+ High Jun 11 and the bull trigger
  • RES 2: 132-20+ High Jun 16
  • RES 1: 132-04 20-day EMA
  • PRICE: 131-25+ @ 15:27 BST Jun 17
  • SUP 1: 131-14 Intraday low
  • SUP 2: 131-01 Low May 13
  • SUP 3: 130-31+ Low May 19 and a key support
  • SUP 4: 130-23+/17+ Low Apr 29 / Low Apr 13

US 10y futures slipped sharply Wednesday on the back of the Fed rate decision and staged a very modest recovery Thursday. The sell-off has resulted in a break of support at 131-18, the Jun 3 and 4 low. Furthermore, the move lower has weakened the near-term outlook, raising the risk of a re-test of the mid-May lows layered between 130-31+ and 131-01. On the upside, a firm near-term resistance is seen at Wednesday's high at 132-20+. Bearish!