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More focus on Speakers today

BUNDS
  • Bund has now tested the 2015 peak yield at 1.057%, forming a short term double bottom at 152.15/152.17 (yesterday's and overnight low).
  • The contract is back to flat on the cash open, on lighter volumes.
  • Yesterday afternoon, recall ECB Holzmann: "ECB will discuss rate increase at the June meeting and is likely to decide on one. "Rate will rise this year, how often and how many will be discussed in June".
  • NOTE: He's one of the most Hawkish, also, he's a voter only for the June meeting, non voter for July and Sep.
  • There's very little in terms of market moving data for Europe, out of the US, sees the awaited NPF, which will potentially provide some knee jerk reaction, but the focus at the forefront remains inflation and in turn Growth.
  • SPEAKERS: Likely more focus on speakers today, with ECB Villeroy, Lane, Elderson, Rehn, BoE Pill, Tenreyro, Fed Williams, Kashkari, Bostic.
  • SUPPLY: Short dated Belgium 2026 and 2028, won't impact Bund.
  • RATINGS: Moody on Ireland and Fitch on Portugal.

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