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German supply, Syndications and Fed in focus

BUNDS

An uneventful start for cash Bund and semi core.

  • German Curve trades flat, while Bund is back trading within that 177.10-177.96 range.
  • The 177.96 level is now a decent resistance area, forming a triple top, 14th, 15th and 26th of January high.
  • Focus today, sees no tier 1 data, so attention for the contract turns to the German EU4bn Bund supply (equates to 26k Bnnd), which should keep the lid on, into the bidding deadline.
  • Syndication from Austria (10yr), Greece (10yr), and Slovenia (60yr)
  • ECB Villeroy and Lane are the scheduled speakers

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