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Heavy supplies this morning

BUNDS

Bund sees better buying interest since the cash open, taking its cue from selling clip orders in Estoxx (VGH1).

  • Led by vaccination pace concerns, after the EU fails to resolves AstraZeneca row, and some fairly Dovish comments from a big Hawk (ECB Knot), coupled with EU official suggesting the possibility of further rate cut yesterday
  • US Earning from Apple, Facebook and Tesla last night, also kept the lid on Equities overnight.
  • Focus today on German Regional and National CPI. Italian and EC Consumer confidence.
  • HEAVY SUPPLIES: Italy 5yr and 10yr (Equates combined 44k BTP, or 34k Bund)

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