Since the recent close above 1.40% the spread widening has accelerated as anticipated. MAY (repeat may) get some pause in the 2.00%-2.12% zone but imo the next logical stopping points are not until those levels marked on the chart....
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First target reached at 2.40% spread where we have been consolidating. Awaiting next thrust higher in BTP's to 3.85% which should see this spread widen to 3%+ second target area.