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German 5/30s flattest since 23/04

BUNDS
  • Bund remains in a tight range (172.41-172.59) since the cash open, and off yesterday's high, after the contract consolidated the full post Fed sell off.
  • The pullback higher in the longer end has translated in a flatter curve, with 5/30s this morning trending at lowest levels since 23/04, now 86.889.
  • Longer term outlook still favours steepeners.
  • NO tier 1 data are left for the session, and no US data are scheduled.
  • Attention quickly turns to the BoE next week which will be interesting following the Fed.

Quick MNI Bund tech:

  • Resistance is at 172.80 High Jun 15
  • Support comes at 171.80

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