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Finding some selling interest into the cash open

BUNDS
  • It was another calmer overnight session for Bund, but the contract sold off into the cash open, taking its cue from the buying interest into Equities.
  • Yesterday's low at 135.55 has been broken, but we only managed to print a 135.47 low.
  • Below the latter would open back to 134.80.
  • Resistance moves down to the 136.67/136.77 area.
  • There's no tier 1 data for today, as desk await EU CPIs, starting tomorrow with the German Regional/National CPIs, and Spain prelim CPI.
  • Today, BOE releases financial policy summary.
  • SUPPLY: Only bills out of Europe which won't impact Bonds. On the other side of the Pond, US sells $35bn of 7yr notes and $22bn 2yr FRN.
  • SYNDICATION: Greek 5yr.
  • SPEAKERS: ECB Kazimir, Schnabel, BoE Mann, Fed Dobbeck, Barr.

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