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Extending gains post Cash open

BUNDS
  • French OAT continues to be one the Global driver across multi assets this week, in EGBs, Equities and the EUR.
  • Bund still acts as a safer haven, and given that Bund is up 52 ticks into the Cash and post open and OAT is still underperforming, the French/German 10yr will likely be at the wider end once again when the German Yield is quoted.
  • For the outright Bund, resistance is seen at 131.97 Yesterday's high, followed by 132.18 High May 17.
  • Support moves up to 131.26.
  • Today will see, final CPIs for France and Portugal, while in the US, prelim Michigan and its Inflation components will be at the forefront.
  • SPEAKERS: There are plenty of speakers to end the week, but the Data rhetoric will likely be reiterated by the ECB members, today includes, Vasle, Lane, Schnabel, Kazaks and Lagarde.
  • On the other side of the Pond, Fed Mester (x3) and Goolsbee are the scheduled speakers.

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