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Bear steeper

BUNDS

Bund remains bear steeper since the cash open, albeit in a fairly tight range (175.20-175.37), and trading within that 50% retracement from that Nov 9th fall.

  • Peripheral opens tighter with Italy and Greece at 2bps.
  • Notable data this morning is the German IFO, while more ECB speakers are scheduled, including Lagarde, Rehn, Schnabel, Lane and de Cos.
  • Main focus remains squarely on Brexit and covid Lockdowns

Quick MNI tech:

  • Support comes at 175.02 50-day EMA
  • Resistance is seen at 175.73 High Nov 20

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