June 20, 2024 06:07 GMT
Heavy supply will be the early focus in Europe
BUNDS
- Although there's very little change in Bund going into the EU Cash open, the contract is still closer to this week's low of 132.16, printed on Tuesday.
- German PPI was below consensus and provided a limited 10 ticks jump in the contract post Cash open.
- Initial support is still seen towards 131.97, followed by 131.58.
- Resistance is also unchanged at 133.21, followed by the 133.48 area, circa the April low in 10yr Yield.
- There are no tier 1 data out of Europe, ECB will Publish its Economic bulletin, while EU Consumer Confidence is unlikely to move the needle, with most of the focus coming Tomorrow, on the Services PMIs release.
- Out of the US, IJC is the only notable release ahead of the US PMIs Tomorrow.
- Main focus for the UK, is of course on the BoE which is expected to keep its rate unchanged.
- SUPPLY: France 3s, 5s, 6s, 8s plus linkers, Spain 5s, 8s, 10s, US sells 5yr TIPS reopening.
- SPEAKERS: There's no UK presser, and for the US, Fed Kashkari, Barkin will be the scheduled speakers.
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