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Fading off its high

BUNDS
  • A busier overnight session for Bonds and rate markets overnight, driven by the BoJ, as they kept their rate unchanged (as expected).
  • Bund gained some 90 ticks on the decision, and remains underpinned into the cash open, albeit off its best level, after the UK inflation saw a small one tenth beat for core and the MoM reading.
  • Support in Bund is at 139.00, while resistance is still seen at 140.00.
  • US Treasuries saw similar price action and a good pick up in volumes on the way up for that time in the session.
  • Today sees, EU final CPI, and US Retail sales, PPI and IP.
  • SUPPLY: German 2050 and 2053 (equates combined to 15k Buxl).
  • US sells $12bn 20yr reopening.
  • SPEAKERS: ECB Villeroy, Fed Bostic, Harker, Logan.

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