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Fades pre open rally

BUNDS
  • Bund has reversed some of the early jump higher following the NRW core (non-HICP) lower reading, was trading circa 137.56, although Equities and front end Euribor still holds onto early gains.
  • Bund resistance is seen at 138.01 initially, and support at 136.99.
  • Today's data includes, German regional/National CPIs, French prelim CPI, Global Services PMIs, but will be final reading for France, Germany, EU, UK and US.
  • US ADP and IJC are also scheduled.
  • SUPPLY: Spain 3s, 5s, 30s, France 10s, 15s, 30s, UK £3bn 2038 (equates to 32.6k Gilt) will weigh.
  • SYNDICATION: Portugal 10yr Benchmark.

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