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Off the lows post UK Data

BUNDS

Bund remains under pressure and printed another multi Month low overnight, lowest level since 1st December.

The contract has found a bid following the UK data coming below consensus, bringing the contract in the green, jumped 19 ticks.

It's a decent start in terms of volumes for Europe and also in US Treasuries.

The latter saw one of its single largest moves following the US CPI beat, although volumes were still short of the best traded volumes for TYH4 on the last FOMC meeting (31st Jan).

Next support in Bund is now at 132.54, and small resistance moves down to 133.75.

EU prelim GDP is the only data left for the session, with no Data out of the US for today.

SUPPLY: Greece 28s, 33s, German 53s, 54s should have limited impact on Govies, UK £3.75bn 10yr (equates to 34k Gilt) should weigh into the bidding deadline.

SPEAKERS: ECB Vujcic, Guindos, Cipollone (x2), Nagel, Fed Goolsbe, Barr.

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