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EU Summit, and plenty more speakers

BUNDS

Bund stays within its 20 ticks overnight range since the cash open (172.15-172.35).

  • The contract stays underpinned but well within yesterday's range.
  • 5/30 curve trades flat, leaning flatter
  • Technically, it looks like we are in a rising wedge (a bearish signal), but the contract will take its cue from Risk events, as the EU and the UK work out steps regarding vaccines supplies
  • On that note, some attention today on the EU SUMMIT presser at 14.30GMT, when response to the COVID-19 pandemic, EU-US relations, Turkey and the Single Market, will all be discussed.
  • On the data front not much in terms of tier 1 data,
  • ECB will publish their economic bulletin
  • Another session with plenty of speakers, including ECB Lagarde, Weidmann, Villeroy, Schanbel, de Guindos, and Fed Williams, Clarida, Bostic, Evans.
  • SUPPLIES: Italy 0% Nov-22 issue. EU4bn (Equates to ~27k BTPS, or small 4.3k Bund).
  • On the other side of the pond, US $62bn 7yr
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