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Bund test initial resistance

CROSS ASSET
  • Bund and the initial resistance noted on the open at 130.00 so far holds, but testing now.
  • A clear break through the latter opens to 130.43 gap.
  • Also better receiving interest in the shorter end Schatz this morning, as well as Cash buyers, with few basis trades in Bobl and Schatz.
  • The timing of the early recovery in Bonds coincided with the fall through and below $80 in WTI, now finding some support at $79.00 mark, printed a $78.94 low.
  • Some suggested a mixed set of Chinese data and winter demand worries as one of the potential Oil driver this morning.

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