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A busy week ahead

BUNDS
  • Markets "should" be more stable, after a couple of fast market session for Govies and short term rates last week.
  • This week is packed with speakers, as well as the Fed and the BoE.
  • Bund is better bid on the cash open, with Treasuries, after the contract traded close to the decent resistance in yields noted at -0.05%, printed -0.065% on Friday.
  • Investors have favoured fading at these levels.
  • German 5s/30s is off Friday's lows, but we still lean flatter, and at flattest levels since March 2020.
  • Very little on the data front with Manufacturing PMI for the Uk (final), and the US.
  • We'll also get Services PMIs at the end of the week, and the US NFP on Friday, although near term focus remains on inflationary risks.

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