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Attention turns to US Data

BUNDS
  • Liquidity remains low overnight for Bund and Treasuries, below average volumes, and tight ranges.
  • Small support moves up to 138.20, but main initial area of interest is still at 137.55, not broken in the past 8 sessions.
  • Resistance is seen at yesterday's high, 139.36, followed by 139.55.
  • This morning sees, Italian Consumer/Manufacturing confidence, but more focus on the US this afternoon, which today includes, GDP, Core PCE, Durable Goods, and Wholesales inventories.
  • SUPPLY: Italy EU1.25bn 1.5% 2025, EU2bn 2.5% 2025 (Equates combined 33.8k BTS), should weigh into the bidding deadline, plus 2033 linker.
  • US sells $35bn at 7yr notes.
  • SYNDICATION: Finland €3b no-grow 15yr.

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