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Drifting lower in early trade

BUNDS
  • Bund remains in a 26 ticks range post cash open, on lower volumes, with US Cash Govies closed for a Japanese Holiday.
  • Support remains at the 133.60/133.63 area, which equated to 2.574% in Yield this week.
  • The Yield perfectly tested yesterday, with a 133.63 low print in futures, while yesterday's high at 134.43, will be seen as the small initial resistance.
  • A quieter day on the Data front, EU CPI is final reading, and on the other side of the Pond, we get 2nd readings for US GDP and Core PCE.
  • ECB Publishes Financial statements for 2022.
  • SUPPLY: US sells $35bn of 7yr notes.
  • SYNDICATION: German 08/2053 tap.
  • SPEAKERS: ECB de Cos, Fed Bostic, Daly, and BoE Mann.

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