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Futures remain underpinned

BUNDS
  • Another limited overnight session for Bund, 48 ticks range and around 9k lots traded pre cash open, now 53 ticks range post open but trading circa mid range.
  • The contract remains underpinned, but still very short of this week's high as the street continue to assess potential contagion risk in the Banking credit.
  • In terms of technical, a little wider this morning, with resistance seen at 138.48 and support at 136.62, followed by 135.80.
  • Today sees, Spanish final GDP, and Global prelim services PMIs. Besides the US PMIs, we also get prelim US Durable Good.
  • SPEAKERS: ECB de Cos, Nagel, Centeno, Fed Bullard, and BoE Mann.

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