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Data and Month End in focus

BUNDS

Bund sits bear steeper, but starting to unwind somewhat since the cash open.

  • A little surprising amid Astra/EU concerns.
  • Nonetheless the contract is still back in that 177.10-177.96 range.
  • Some focus on Data this morning, with German GDP still to come, Spanish GDP, CPI, and Retail Sales
  • Technically, the contract should stay supported on LARGE Month End extension for EGBs, but direction will nonetheless be superseded by risk event.
  • Watch for potential bid going into 16.15GMT

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