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Looking to test support

BUNDS
  • Bund falls towards next support noted at 131.70 Yesterday, but the volumes are all roll related, with just 2 days before expiry.
  • September is still front Month, and although all the volume is spread related in the longer end, like in the Bund, the shorter end is again leading with just half the volume in the Schatz front Month spread related.
  • ERU3 is again seeing better volume in early trade vs the rest of the strip, with the 2yr Schatz.
  • Today sees, Global services PMIs, but final readings for FR/GE/EU/UK. EU PPI, and ECB 1yr/3yr Inflation expectations.
  • On the other side of the Atlantic, US factory orders, and final Durable goods.
  • SUPPLY: Austria 10s, 30s.

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