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German 10yr, highest since 2018

BUNDS
  • Bund continues to take it cue from the latest Risk On rally.
  • Estoxx futures is through a 10 days session high.
  • Some of the momentum has been help by the big rally in Chinese Equities, following couple of Chinese headlines " China vows to support overseas share listings", "China keeps good dialogue with U.S. regulators over ADRs" (as per Bloomberg).
  • There's still some divergence across assets, where Govies and Equities would suggest the Eastern war is over but this has not been translated into the EUR.
  • ALL EYES today, will be on the FOMC, besides this event, there's very little in terms of tier 1 data in Europe.
  • US sees, Retail Sales as the most notable data.
  • SUPPLIES: German EU 4bn 10yr Bund (equates to 26.5k Bund)

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