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Edging towards last Friday's highs.

BUNDS
  • Bund remains elevated overnight, and found a bid on the lower revision in the German GDP.
  • The 2.574% in Yield has held once again held yesterday, in has formed a decent support area in futures.
  • Some of the pullback yesterday morning were led by the shorter end (front Euribor), and further momentum was led by the longer end 30yr in the US and in Europe later in the day.
  • Futures contract are now eyeing a test back to last Friday's highs, 136.13 for US 30yr (WNH3), 140.68 for the Buxl (UBH3), and 135.33 for Bund.
  • These are the immediate resistance for the respective contracts.
  • Today sees, Spanish PPI, French Consumer confidence, and out of the US, Personal income/spending, while Michigan will be final reading.
  • SPEAKERS: Fed Jefferson, Mester, Bullard, Collins, Waller, and BoE Tenreyro.

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