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Central Banks are at the forefront

BUNDS
  • A tight overnight range for Bund going into the cash open, but the contract remains at its upper range, while this week's high at 133.88 holds, and this will be and still is the initial resistance.
  • Support moves back down to the 133.06 area initially.
  • There's no tier data for today, although US IJC can always move the needle somewhat, from Fast Money desks.
  • Main focus is on the CBs, with the BoE expected 25bps hike, SNB (25bps), Norges Bank (25bps), without forgetting the CBRT, which won't move Bund, but will be watched by the Banks, with some wild calls, and a range from a 14% to a 40% rates (GS going for 40% from 8.5%).
  • SUPPLY: US sells $19bn 5yr TIPS reopening.
  • SPEAKERS: ECB Panetta, Nagel, Guindos, Fed Bowman, Mester, Barkin and Powell before the Senate, but besides the Q&A part unlikely to hear anything new from Powell.

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