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Finding support at the highest Yield since 2014

BUNDS
  • Bund has found support at the 1.188% yesterday, and overnight, (this Yield was the 13th May high and the highest print since 01/08/14).
  • Bund printed a 150.78 low yesterday, and this will be the initial support.
  • Expect rolling positions into Sep to continue, after a decent jump in the pace yesterday.
  • There are no tier 1 data out of Europe, more focus on the US, with ADP and Factory orders. US Durable goods will be final reading.
  • SUPPLY: Spain 2025, 2029, 2031 plus 2027 linker, France 2032, 2036, 2052.
  • SPEAKERS: ECB Villeroy, de Cos, Fed Logan and Mester.

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