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Positioning ahead of the long weekend

BUNDS

Bund trades flat since the cash open, and well within yesterday's ranges

  • German 5/30s is near yesterday's low, albeit within this week's range.
  • On the data front today sees some global manufacturing PMIs releases, but will be final readings for France, Germany, EU and the US, so unlikely to move the needle.
  • On the margin more focus on US IJC and ISM manufacturing, ahead of NFP tomorrow.
  • Speakers sees Fed Harker.
  • Technically, we are more likely to see some positioning, ahead of the long Bank holiday weekend.

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