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Govies and Rates remain under pressure

BUNDS
  • Bund and Rates future remains under pressure, a continuation from the US NFP beat.
  • Bund is now close at pre BoE levels, was trading circa 137.23.
  • Initial support is seen at 137.10 (printed a 137.13 low), followed by 136.66.
  • Initial resistance is at 137.79 (gap).
  • Looking at the June Euribor, the contract is still just short of BoE pre level, traded around 96.53 versus a 96.55 low in early trade.
  • Today, sees German and UK construction PMIs, as well as EC retail sales.
  • There's no US data to start the week.
  • SPEAKERS: ECB Holzmann, BoE Mann, and Pill.

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