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Core Bonds

EGBS
Bund are extending gains, unwinding some of Friday's sell off.
  • Core Bond continue to take their cues from Risk sentiment and
    Covid cases worries, as numbers spike from China to Europe, as
    well as in Australia.
  • MNI Tech sees initial resistance at 176.98 in Bund (now at 176.53).
  • Plenty of supplies to take in this week, which should keep upside limited.
  • Monday: Belgium, sale of the 0.80% Jun-25 OLO and 0.90% Jun-29
    OLO for E1.5-2.0bn.
  • Tuesday: Italy will auction the 0.40% May-30 BTPEi for E0.75-1.0bn
    and the May-22 CTZ for E2.75-3.25bn.
  • Wednesday: Germany tap of the 0% Nov-27 bund for E4bn. And
    auction the 0% May-35 Bund for E3.5bn.
  • Thursday:: auction M/L-Term BTPs with details TBA

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