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Better buying of Bund on the open

BUNDS

Some pullbacks in Estoxx, since the Govie opening bell.

  • VGZ0 is testing the figure at 3200.00, and worth keeping and eye on the overnight opening gap, down to 3188.52.
  • Bund are better bid, but in a tight 20 ticks range.
  • USD remains on the backfoot against most majors, on the hope of a US stimulus deal, and report that Trump could be out of hospital as soon as today.
  • SUPPLIES:
  • A much lighter week, with EUE9.4bn expected.
  • Tuesday: Austria taps of the 0% Jul-24 RAGB and 0% Feb-30 RAGB for E1.15bn.
  • Germany auctions 0.50% Apr-30 BundEi for E0.50bn and the 0.10% Apr-46 BundEi for E0.25bn.
  • Wednesday: Germany sell E3bn of the 0% Aug-30 bund.
  • Thursday: Ireland concludes issuance for the week on Thursday with auction details TBA.

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