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Day ahead

BUNDS
  • A more steady overnight session for Bund, albeit with 10yr yield still trending at highest levels since October 2018.
  • Next upside level in yield comes at the October 2018 peak, 0.58%.
  • Initial support at 159.10 has so far held in Futures, did print a 159.06 low overnight.
  • There are no tier 1 data left for the session, with the UK CPI out of the way,.
  • The had a limited impact, as already priced in.
  • Cable moved 5 pips higher, but is back at pre data release.
  • Focus is once again on speakers, with another packed session, today includes BoE Bailey, ECB Nagel, Visco, Fed Powell, Daly, Bullard.
  • For the UK, sees the Chancellor Spring budget statement.
  • SUPPLIES; US $16bn 20yr and a $22bn 2yr FRN.
  • SYNDICATION: Italy 8yr CCTeu and Austria EUR Benchmark 10Y Bond

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