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Early focus on supplies

BUNDS

Bund remains underpinned following the Dove Fed Powell yesterday.

  • The range is so far tight at 14 ticks (174.50-174.64), with risk tilted to the upside.
  • Further upside traction would eye the July high at 174.77, also highest level since February.
  • German 10yr yield tested -0.343% and that day, just ahead of support at -0.346%.
  • No tier 1 data are left for Europe, besides Italian CPI, but will be Final reading.
  • Out of of the US, IJC, Phili Fed and IP are the notable data.
  • SPEAKERS; ECB Lagarde and Yellen release podcast conversation, BoE Saunders, Fed Evans, and Powell this time before Senate,.
  • SUPPLIES: Early morning focus will be on supplies, with France 2024, 2026, 2027, 2028, plus couple of linkers.
  • Spain 2024, 2028, 2031, 2037.

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