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• The BTP/Bund spread is back at the 106.00bps level, 1.9bp tighter so far on the Day.
• The spread has found support multiple time at this level, back in December, January and also this Month.
• Technically, we could be having a falling wedge, would be bullish, but investors will be watching how it develops at these lower levels.
• A clear break through 106.00bps, opens to the Psychological 100.00, although better will be seen nearer the ~97.7bps area.

(Chart source: MNI/Bloomberg).