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Under renewed pressure

BTP
  • BTP remains heavy in early trading, with heavy supplies today keeping the lid on the contract.
  • And we see 500mln sold across the curve as we break through intraday low.
  • In terms of technical, MNI next support is now at 145.35 1.00 proj of the Feb 12 - 26 - Mar 11 price swing
  • In yield terms, 10yr trends at highest levels since 08/09, with next target at 1.098% (31/08 high), which would equate today 145.08.
  • Looking at world yield, now Hong Kong surpasses Greece (FWIW)




Chart sources: Bloomberg

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