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Leaning bear steeper

BUNDS

Bund remains mixed since the cash open (174.96-175.20 range), initially bear steeper, following the record breaking rally in Equities yesterday (Dow at 30k), as investors found some optimism on the US transition news.

  • Equities saw some early corrective pullback in early trading, driven by positioning, profit taking/squaring as we head towards FOMC minutes later today and US Thanks Giving holiday tomorrow
  • No real 1 tier data is left for the EU, ECB will publish financial stability review, and ECB Holzmann will speak on Financial stability.
  • SUPPLIES:
  • Italy sells up to EU2bn 2022 zero Bonds (Equates to 15k BTPS)

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