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A 25 ticks swing on the open

BUNDS
  • A knee jerk cash open for Bund, with a 25 ticks swing, down to 157.47, up to 157.72, and back to 157.62.
  • Very light volume on the move, with the contract trading just under 4k lots, since the cash open.
  • Bund trades within two gap, with the upside one at 157.86, and down to 157.27.
  • There are no tier 1 data for the session, US IJC is no longer a market mover.
  • Focus will be on the ECB minutes ( Account of March Monetary Policy Meeting).
  • SUPPLY: Early focus will on Spain selling 2027, 2029, 2032, plus a 2033 linker).
  • SPEAKERS: BoE Pill, {us} Fed Bullard, Bostic and Evans

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