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Main focus is on Jackson Hole

BUNDS
  • A tight and very light traded volume session for Bund overnight, but the contract still remains closer to the support noted at 133.77, while some desks might look at 133.94 first.
  • Resistance moves down to 134.65, while better is seen at 135.18, tested but held last week to print a 135.17 high.
  • There's no Tier 1 data for the session, ECB will release CPI expectations.
  • SPEAKERS: ALL EYES will of course be on Jackson Hole today and Powell, potential comment on a weakening Labour sector, and hints at the September meeting, although we still have two big key releases before the next FOMC meeting, with NFP and CPI, so Data dependency might well be repeated once again.
  • Fed Harker and Goolsbee are also scheduled, BoE Bailey will also be at JH later today.

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