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Focus will be on Supply

BUNDS
  • Bund trades within this week's range of 132.52/133.28 (low/high), after Monday's low held Yesterday, printed a 132.54 low.
  • This remains the initial support for today, followed by 132.25 (gap).
  • Initial resistance at 133.37 is also untested, printed a 133.28 high on Monday.
  • Today only sees Spanish prelim CPI, with no other notable data scheduled, it will be a busier day on the data front Tomorrow.
  • BoE releases policy committee minutes.
  • SUPPLY: Early focus will be on supply, Italy 2029s, 2034 (equates to combined 70.7k BTP) should weigh, plus 2031 floating bond (won't impact BTP). German €3bn 7yr (equates to 17.4k Bund or 33k Bobl) could weigh on Bobl. US sells $43bn of 7yr Notes and $28bn of 2yr FRN reopening.
  • SPEAKERS: ECB Cipollone, Kazaks, Fed Waller.

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