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Bonds drift lower

CROSS ASSET
  • Way below average volumes for Govies and rate today, as most investors wait for the European CPIs, starting as off tomorrow.
  • Still Bund is drifting back towards session low with the underpinned risk today.
  • VGM3 still sees immediate resistance at 4164.00, did print a 4163.00 high so far.
  • Looking ahead at the US cash open, due in 50 minutes, futures would suggest a +0.9% open for SPX at current levels.

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