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A busier day ahead

BUNDS
  • Bund remains in a tight 13 ticks range (170.07-170.20) since the cash open.
  • Not seeing any rolls as of yet, expect for this to continue to pick up.
  • Bonds will likely remain steady ahead of NFP tomorrow, and ALL EYES quickly turning to ECB next week.
  • A busier day on the data front, with Global Services PMIs (final reading for France, Germany, EU, UK).
  • On the other side of the pond, sees ADP, IJC, Service PMI will be final, so more focus on the ISM service index.
  • SPEAKERS: BoE Bailey, Fed Bostic, Kaplan, Harker, Quarles
  • SUPPLIES: Heavy supplies from Spain, 2026, 2027, 2040, and France 2021, 2044, 2055, 2072, which should weigh on Bonds in early trading at least.

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