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Edging higher post Cash open

BUNDS
  • Bund was trading in a tight 22 ticks overnight, 36 ticks now since the Cash open, and back above 137.00.
  • The contract saw a small gap higher on the open, fading some of Yesterday's afternoon selling, led by the rise in Oil and Gas prices on Red Sea shipping concerns.
  • EGBs have all seen initial Yield support targets holding Yesterday, with Bund future also edging into overbought territory.
  • Initial resistance for the contract is unchanged circa 137.57.
  • Support is at 136.73/136.59 area.
  • Today sees, final EU CPI, and nothing of real note out of the US.
  • SUPPLY: UK £3bn 2034 (27k Gilt) could weigh.
  • SPEAKERS: Focus will again be on speakers, today includes, ECB Simkus, Kazimir, Vujcic, BoE Breeden, US Fed Barkin, Bostic, Goolsbee.

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