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If the Bund contract does ever open, there....>

BUNDS
BUNDS: If the Bund contract does ever open, there is a lot on the slate today,
ending with the FOMC meeting this evening where a rate hike is nearly perfectly
priced.
- In Europe, German final CPI has already been released unrevised. At 1000GMT,
Eurozone industrial production for Oct will include a strong seasonal effect
that left German data very weak.
- Later, at 1330GMT the US CPI should help push around the US curve. Yesterday
saw strong US PPI data released but the CPI numbers appear to perennially defy
expectations of improvement.
- Because it is a big couple of days for events, be aware of the larger
technical levels. For the Bund, 163.93 is the daily channel top from the Sept
low and the daily bull channel base is at 162.48 from the Oct 25 low.

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