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An eventful overnight session

BUNDS
  • An eventful overnight session, a continuation from the post Hawkish FOMC minutes, when Fed officials considered earlier and faster rate hikes than expected.
  • US 10 year note has pierced through initial yield resistance at 1.70%, noted yesterday.
  • Next big area of interest for TYH2 is now at the big 1.7811% yield, which would equate circa 128.08.
  • The future may find short term support around that area ahead of the US CPI on the 12th.
  • Bund has taken its cue from the US price action, and next support for the contract comes at 170.19 Low Nov 2 initially.
  • Today sees the German Regional and National CPI, and out of the US Factory orders and Durable Goods, although the latter will be final reading. US IJC is longer a market mover, since the data has fallen below a certain threshold.
  • SUPPLIES: France 2032, 2040 and 2053.
  • SPEAKERS: Fed Daly and Bullard are scheduled.
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