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Plenty of speakers on the agenda

BUNDS
  • Bund trades at mid range and on the balance the curve is leaning flatter.
  • The contract tested next initial target at -0.18% in yield term yesterday, and yields were the main driver of assets, from the USD, to equities, with Tech (under pressure) and Bank stocks (fairing better).
  • Some RECeiving flow, dip buying in futures were likely as desks looked to park cash, as German yields tested best levels in 3 months.
  • Further upside continuation in yields would target -0.146%, which today would equate to 168.94.
  • Today, sees Spanish CPI, with very little else that will be market moving, even across the pond.
  • SPEAKERS: Another packed day, with ECB Centeno, Stournaras, Maklouf, Lane, Guindos, Lagarde, Elderson, Fed Powell, Daily, Bostic, and BoE Bailey.
  • SUPPLIES; Italy 5 and 10yr (Equates combined to 25.9k BTP), and a CCTeu. German Bund EU4bn (Equates to 26.6k Bund)

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