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A steady start

BUNDS
  • Bund remains steady on the cash open, with the contract staying in a 156.90/157.43 range since yesterday 16.00GMT, and 156.90/157.32 overnight.
  • Largest mover overnight was Oil, with WTI falling $7.5 at midnight (UK time), testing 100.53, but has bounced close to $2 since 6.00 am, after the US weighted releasing around a Million barrels a day.
  • This has no impact for Bund, with Oil price still elevated, and the conversation remains on how gradual, or fast, the rate hike path looks.
  • Another packed day for data, with France, Italy, Portugal CPIs, Germany, Italy, EU Unemployment, and out of the US, IJC (no longer a market mover), focus will be on PCE deflator, and MNI Chicago PMI)
  • SPEAKERS: ECB Lane, de Guindos, {us} Fed Williams (unlikely to hear anything new)

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