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Eyeing the 2.40% Yield.

BUNDS
  • September is now front month for Bund, and the contract continues to trade heavy, with the 10yr Yield is heading back at the 2.4% mark, printed a 2.395% high Yesterday.
  • On the other side of the Globe, Australia surprised markets and hiked their rates, but this had no impact in core bonds, TYU3 moved 2.5 ticks and Bund just under10 ticks.
  • Further drift lower in Bund, would open to initial support at 133.45, while resistance moves down to 134.72.
  • There's no tier data for the session, EU Retail sales, Spain IP, and nothing out of the US.
  • ECB releases Consumer expectations survey.
  • SUPPLY: UK £2.5bn 2053 (Equates to 34.5k Gilt) should weigh into the bidding deadline, Austria 2033, 2036.
  • SYNDICATION: EU 7s, 20s, Estonia 10yr, Croatia named banks for a 12yr, Estonia plans a 2032 WNG.
  • SPEAKERS: ECB Knot, Vujcic (x2), Centeno.

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