May 15, 2024 06:19 GMT
EU GDP and US CPI are at the forefront
BUNDS
- A very tight overnight 7 ticks range for Bund pre Cash open as the Street awaits the main event of the Week, the US CPI.
- Post Cash open, the contract has gained a few ticks to extend the early range to 17 ticks, and now just trades closer to Yesterday's mid range.
- Although Bund printed a 130.23 low on the US PPI release, initial support moves down to 129.94 (gap).
- Small resistance moves down to 131.13, followed by 131.40 and 131.87.
- Today sees, France final CPI, EU prelim GDP, US retail Sales, but the main focus will be on the US CPI.
- SUPPLY: UK £3bn 2033 (equates to ~21.7k Gilt) could weigh, German 2053, 2054 (equates combined 14.7k Buxl) should have limited impact.
- SPEAKERS: ECB Rehn, Muller, Villeroy, Makhlouf, Fed Bernanke testifies on BoE, Fed Barr (testifies before House Committee), Kashkari, Bowman.
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