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Day ahead

BUNDS
  • Risk On/Risk Off tone continues to be the driver of cross assets, with Bund trading towards the lower part of yesterday's range, despite being up 33 ticks overnight and into the Cash Govie open.
  • Resistance moves back down to 153.98, support is at 152.99.
  • Looking at Estoxx, the Future trends towards the May's high at 3775.00, printed a 3750.00 high overnight, but trades circa flat for the session.
  • Tech stocks in Asia have also seen decent gains.
  • There is no market moving data out of Europe, and most of the focus will be on the US, with Wholesale inventories and PCE deflator, while Michigan will be final reading.
  • SPEAKERS: ECB Lane.

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