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Pushing lower since the cash open.

BUNDS
  • Bund extends lower on the cash open with Tnotes.
  • The Hawk Fed, has kept the lid on Govies and Equities.
  • The contract is now back below pre ECB meeting level, with next support seen at 137.00, and 136.82.
  • Resistance will be at the opening gap, up to 138.13, followed by 138.41.
  • Swiss CPI will be the next immediate data.
  • Today also includes UK and US Services PMIs, but final reading.
  • US Factory orders and ISM Services Index are the notable data for this afternoon.
  • Main event today, is the BoE rate decision, when a 75bps hike is expected.
  • SUPPLY: Spain 2027, 2030, 2032 plus linker, and France 10, 15, 30s.
  • SPEAKERS: ECB Lagarde, Kazaks, Panetta, Nagel, Elderson, Visco, de Cos, Makhlouf, Centeno.
  • BoE Bailey presser, and Mann.

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