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Leaning bear flatter on the cash open

BUNDS
  • Very little change in Bund from last week, as we start a new week.
  • Outlook remains tilted to the downside, with an unchanged initial target at the -0.298% yield level.
  • Reference 171.83, would equate to 171.35 today.
  • We have some heavy supplies for the week, which should weigh on Govies.
  • We have no tier 1 data for the session, out of the US sees August budget statement,
  • On this side of the Atlantic, couple of ECB speakers are scheduled, ECB Schnabel and Lagarde.
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