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A busy day ahead

BUNDS
  • Bund is seeing upside continuation, as investors continue to gauge the timing for a ECB cut, all a continuation from the ECB meeting and latest ECB speakers.
  • Next upside target is at 135.50, followed by 135.99.
  • Support comes at 134.66, and 134.31 (gap).
  • US Tnotes has cleared the next area of interest seen at 111.21, and further upside traction, will eye 112.02, followed by 112.12+ (~4.00% Yield).
  • Its a busy day ahead, with France, Spain, German, Italy, EU GDPs, Spain Prelim CPI, Italy PPI, and US JOLTS.
  • SUPPLY: UK 2051 Linker (won't impact Gilt), Italy 29s, 33s, 35s (equates combined 51.5k BTP) should weigh, plus 2031 Floating Bond (won't impact BTP). German EU5bn Schatz (equates to 53.9k Schatz) should weigh into the bidding deadline.
  • SYNDICATION: German 30yr, Greek 10yr.
  • SPEAKERS: ECB Vujcic, Vasle, Nagel.

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