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ALL EYES on US CPI

BUNDS

Bund: ALL EYES on US CPI today, given the price action of late, and a closer look going forward of potential inflation spikes.

  • The contract stays underpinned, better bid on the cash open, but we are still trading at lowest levels since 26/02, and still eyeing the 2020 yield peak at -0.14%.
  • Plenty of data to take down today, France, Sweden, Portugal CPIs (Final for France), EU IP, and EU commission Economic forecast.
  • ALL EYES on the other side of the pond today, with US CPI.
  • Also on the calendar monthly Budget statement
  • SUPPLIES: Portugal 10-year 0.30% Oct-31 OT and 15-year 0.90% Oct-35 OT (won't affect Bunds), and US 10yr $41bn

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