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Busiest week of the Year ahead

BUNDS
  • The busiest week so far this year, with Data, Risk Events (CBs), Earnings, Month End and supply.
  • Bund stays underpinned overnight, a continuation since the leaning Dove ECB, but futures contracts remain just below Friday's best levels.
  • Some reported that the overnight bid in Treasuries was led by Middle east attack, which helped Oil gaped higher, and Equities lower.
  • Overall market moves are more rate led, with a clear better flow in the Front end Euribor and 2yr Schatz going into the EU Cash open, as desks gauge rate cut timings going forward, with similar flows in US Rates.
  • Bund support is at ~134.30 and resistance at 134.95, followed by 135.25, although it did print a 135.02 high on Friday.
  • There no tier 1 data for today, these will be kicking off as of Tomorrow.
  • SPEAKERS: ECB Guindos (x2).

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