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Day ahead

BUNDS
  • Cross assets and Bunds remains on a holding pattern ahead of Thursday.
  • Curve leans flatter on the cash open, and focus will turn to supplies today, which should keep the lid on Govies.
  • Very little in terms of tier 1 data for the day. German ZEW and EU GDP, but final reading.
  • Out of the US sees Trade balance.
  • SUPPLIES: Netherlands EU2.5bn 2031, German EU4bn 7yr (both equates combined 35k Bunds), Austria 2025 and 2031, UK 2026 and 2071 £4.25bn (Equates combined to 65k Gilts), US $58bn 3yr.
  • SYNDICATION: Italy plans 2031 syndicate Bond sale

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