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Early focus remains on supply

BUNDS
  • Bund fell 20 ticks, on the back of the UK Data, with desk focussed on the more important earning part, which saw decent beats.
  • Attention will now turn to the main event for this week, with the UK CPI tomorrow.
  • Yesterday's low at 133.60 will be seen as the initial support area, but most will look at 133.33 the mid March low.
  • Small resistance moves down to 134.16, followed by 134.50.
  • It is a lighter week on the data front, and today only sees German ZEW.
  • SUPPLY: Early focus will again be on supply this morning, Netherlands EU2bn 30yr (Equates to 9.2k Buxl), UK £2.25bn 2053 (Equates to 37.5k Gilt) should weigh, Finland 2047 EU1bn (equates to 12.1k Bund) shouldn't impact Bund, EU500mln 2028 (equates to 4.2k Bobl) shouldn't impact Bobl.
  • SYNDICATION: Austria EU3bn WNG 6yr green and 30yr Benchmark.
  • SPEAKERS: ECB Centeno ("digital first"), Fed Bowman ("digital currency")

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