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Heavy week of supply

BUNDS
  • A lighter week on the data front for markets, but the main focus will be on Wednesday, with the UK CPI.
  • There's hardly any real notable data out of the US, IJC on Thursday, and the main attention on Friday with prelim Services PMIs.
  • Early focus for Europe will be on heavy supply with EU45.4bn expected.
  • Support is Bund is at 134.15 61.8% retracement of the Mar 2 - 20 rally, followed by the 133.80 area, and below the latter, 133.33.
  • Resistance moves down 134.66, followed by Friday's high, at 135.28.
  • Today sees, Italian final CPI.
  • SPEAKERS: BoE Cunliffe, ECB Lagarde.

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