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Another positive start for Bund

BUNDS
  • Another positive start for Bund, after gapping higher Yesterday, the contract sees another small gap higher overnight, and remains close to below the 2.45% level in Yield, equated to 133.33 yesterday and Bund printed a 133.45 high Yesterday, 133.44 overnight.
  • Past Yesterday's high, next upside target will be at 2.395%, equated circa 133.92 Yesterday.
  • Supports are at 133.09 (gap), followed by 132.73, and 132.29 initially.
  • There's no data for today, and the early focus will again be on the Banks on the Equity cash open, after the Italian Government issued a clarification that the tax won't exceed 0.1% of a firm’s assets.
  • SUPPLY: UK £3bn 10yr (Equates to 24k Gilt) could weigh, German 10yr EU5bn Bund (equates 40.5k Bund) should weigh, US sells $48bn of 10yr notes.

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