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A big downside opening gap

BUNDS
  • A big 51 ticks downside opening gap for Bund, and despite the UK out on for a Bank Holiday, volumes overnight are above averages.
  • Downside gap is from 149.46 down to 148.95.
  • Support in Bund is 148.24 (1st July low), printed 148.25 low.
  • Yesterday: "ECB Needs ‘Resolute’ Hike of at Least a Half-Point, Kazaks Says""
  • "ECB must act forcefully to contain record inflation and keep expectations for future price growth anchored as the weak euro exacerbates a surge in energy costs, according to Governing Council member Olli Rehn.
  • There's no Tier 1 data for the session, ahead of a packed week for data, ending with the NFP on Friday.
  • SPEAKERS: ECB Lane, Fed Brainard.
  • SUPPLY: EU NGEU

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