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Gapper higher Overnight

BUNDS
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  • The German Bund saw a small gap higher and trades above Friday's high, led by the Dove Fed Powell, clearly drawing a line in the sand regarding the Labour sector, NFP will now likely determine the size of the next cut.
  • Volumes are light, the UK are out for a Bank Holiday, and the Treasury elevated volumes is driven by the roll ahead of the first notice this week.
  • Technically initial area support in Bund is at 134.46 (opening gap), followed by 133.94, although better is seen at 133.77.
  • Despite the Dovish tilt on Friday, neither the Bund nor the Tnotes managed to break through the next resistance.
  • For Bund this remains at 135.18.
  • Today sees the German IFO, but the focus this week will on the EU CPIs, and US core PCE.
  • SPEAKERS: Fed Daly.
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  • The German Bund saw a small gap higher and trades above Friday's high, led by the Dove Fed Powell, clearly drawing a line in the sand regarding the Labour sector, NFP will now likely determine the size of the next cut.
  • Volumes are light, the UK are out for a Bank Holiday, and the Treasury elevated volumes is driven by the roll ahead of the first notice this week.
  • Technically initial area support in Bund is at 134.46 (opening gap), followed by 133.94, although better is seen at 133.77.
  • Despite the Dovish tilt on Friday, neither the Bund nor the Tnotes managed to break through the next resistance.
  • For Bund this remains at 135.18.
  • Today sees the German IFO, but the focus this week will on the EU CPIs, and US core PCE.
  • SPEAKERS: Fed Daly.