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Continued small unwind

CROSS ASSET
  • Seeing small continuation of price unwind across assets, unwinding some of the US NFP price action, although volumes and liquidity remains on the very low side.
  • Equities are paring losses, after Friday saw some of the biggest moves in a couple weeks.
  • Govies, EGBs and Tnotes are also recovering higher and similar story in FX.
  • EURUSD is back above 1.0200, and was trading circa 1.0231 pre NFP.
  • Some desk will likely position for the US CPI (Wednesday), with consensus going for a slow down median reading of 0.2% MoM versus 1.3% last Month.
  • Range for the data is 0.0% to just 0.4%, median 0.2%.

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