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BUNDS: Stays underpinned post US Data

BUNDS
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsRegionMarkets
  • Following a very volatile move in Bund, initially sold off on the stronger Inflation data, the contract then spiked nearly 40 ticks on the IJC miss, and remains underpinned.
  • As our Data team noted, notably the upside surprise categories for the most part won't translate fully into the PCE print so that may be mitigating the reaction to the CPI upside.
  • The initial Bund resistance is untested and still further out, up to 133.80.
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  • Following a very volatile move in Bund, initially sold off on the stronger Inflation data, the contract then spiked nearly 40 ticks on the IJC miss, and remains underpinned.
  • As our Data team noted, notably the upside surprise categories for the most part won't translate fully into the PCE print so that may be mitigating the reaction to the CPI upside.
  • The initial Bund resistance is untested and still further out, up to 133.80.