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Attention turns to US NFP

BUNDS

A fairly subdued Cash and Govie open for EGBs, with Bund underpinned, on dip buying and some squaring,

  • Today sees no real tier 1 data releases out of Europe. French IP and EC Unemployment are the European releases of note.
  • Focus for investors will be on the US NFP, which is expected to have slowed, on new virus shutdowns stalling service-sector, employment growth.
  • Median Bloomberg economist expectation, are 50k versus 245k last.
  • Some attention on the upside continuation, in US Equities, now also buoyed (as expected by most), on report that the Biden administration, is looking for balance payment of the covered $2,000 Covid support, followed by a $3 trillion tax and infrastructure package (Axios)

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