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Massive moves in the first 15 minutes of trading

BUNDS
  • A busy cash open for Bund after a massive overnight range session for the contract, already in a 200 ticks range (166.01/168.01).
  • Equities extend their losses as tensions in Russia/Ukraine reach new levels, after Russian President Putin announces a special military operation to demilitarise Ukraine.
  • Despite the Bund rally, the contract is seeing massive selling into the strength, with contract now already 100 ticks off the high at 167.01 with 50k lots traded in the first 15 minutes.
  • Brent has jumped over 6$, while European Gas price spiked over 25%.
  • There are no tier 1 EU data of note, and out of the US, sees 2nd reading for GDP and Core PCE.
  • SUPPLIES: US $50bn 7yr.
  • SPEAKERS: BoE Bailey, Broadbent, Pill, ECB Schnable, and US Fed Barkin, Bostic, Mester and Daly.
  • Regardless, ALL EYES are on Russia
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