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ALL EYES on US inflation

BUNDS
  • A more subdued overnight session for Bund, with 7k lots traded, but the contract once again gaped lower, with a massive 1,406 ticks drop since the 7th March.
  • US 10yr yield is heading above the Greek 10yr, printed a 2.83% versus 2.84% for Greece.
  • German 10yr, not yet quoted, is approaching 0.85%, which yesterday equated to 154.57, traded a 154.61 low overnight.
  • ALL EYES is on the US CPI, out of Europe sees the German ZEW, but not a market mover.
  • Portugal CPI will be final reading.
  • SUPPLY: Netherlands EU2.5bn 2032 (equates to 17k Bund), German 2yr Schatz EU5.5bn (Equates to 49.6k Schatz), should keep the lid on the contract.
  • SPEAKERS: Fed Brainard

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