January 29, 2025 07:12 GMT
BUNDS: A big spike in Equities
BUNDS
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- The German Bund traded in a super tight 9 ticks range overnight, Data release fully picks up as of Tomorrow, so plenty to take in still.
- Early questions are on the spike higher in Equities, this is led by the ASML earnings that saw a beat in early trade, so focus will be on the cash open in under an hour, we could be set for record highs!
- For the German Bund, the contract has seen a tiny upside gap during the Overnight open, this is closed, support remains at the 131.33 gap which held Yesterday.
- The 20 day EMA is down to 132.04, but better resistances are still eyed at 132.22 and 132.57.
- Today sees the Spanish prelim GDP and the US prelim Wholesales, but the Data calendar is packed on Thursday/Friday.
- The main focus is on the Expected unchanged FOMC rate later today.
- SUPPLY: UK £3bn 2033 (equates to 19.4k Gilt) could weigh given the much lower liquidity in early trade. German €4.5bn Bund (Equates to 37k Bund) again could weigh on the lower early traded Volumes.
- SPEAKERS: BoE Bailey, Nathanaël Benjamin, Liz Oakes and Colette Bowe at the Treasury committee, Fed Powell's presser.
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