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German ZEW and Supply the early focus

BUNDS
  • Bund trades near yesterday's upper range overnight, and on the Cash open.
  • Immediate resistance will be seen at 137.65.
  • Support is at the opening gap, down from 136.78 to 136.61.
  • Reports by MNI and later by the FT, that the BoE is set to delay QT has been a supporting factor for Govies and Risk On, with Estoxx (VGZ2) trading close to next key resistance at 3492.00 (the October high).
  • Only data of note for today, are German ZEW and US IP, but ALL EYES are on the UK CPI release tomorrow.
  • SUPPLY: German 7yr EU4bn (Equates to 22k Bund or 45.8k Bobl).
  • SYNDICATION: Lithuania Bond tap.
  • SPEAKERS: ECB Makhlouf, Schnabel, Nagel, Fed Bostic and Kashkari.

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