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A busy day ahead

BUNDS
  • Bund is down overnight and remains better offered since the cash open, but we are still above the 171.00 figure despite the hawkish Fed.
  • Risks remains tilted to the downside with target at the -0.246% yield level.
  • Today would equate, reference 171.28 to 170.50, coincidentally, in pure tech support is at 170.52 3.00 proj of the Aug 5 - 11 - 17 price swing, and this will be the area to watch out for.
  • We have a busy day for the session on the data front and packed with Central Banks.
  • For Europe most eyes will be on the BoE.
  • Today we get Norges Bank (exp hike 25bps), BoE (unch), ECB economic Bulletin and ECB Elderson
  • SUPPLIES: US £14bn 10yr TIPS

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