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Edging lower on the cash open

BUNDS
  • Bund remains within its 50 ticks traded range so far this week, and after trading in a 15 ticks range overnight, the contract leans in the red, since the Cash open.
  • Main initial support noted at 133.69 held last week, printed a 133.71 low, and this is still the initial area to watch.
  • Some desks will look at 134.66, Yesterday's high for resistance, but better is seen towards the 135.00 figure.
  • There's no tier data for today, this will start as off Tomorrow, with Services PMIs.
  • ECB releases Bank lending survey.
  • SUPPLY: Netherland 2038 (equates to 17.2k Bund), Germany 2027 (equates to 6.6k Bobl), German 2053 (equates to 17.5k Bund), overall should have limited impact into the respective bidding deadlines.
  • US Sells $60bn of 2yr Notes.
  • SYNDICATION: EU 2030, 2053.

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