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Pushing lower since the Cash open

BUNDS
  • A Very light and tight range session in Bund and also seen across the Euribor strip, with just around 500 lots traded in each expiries pre Bund cash open.
  • Bund was quoted two ticks wide going into the cash open, but drifting lower in low volumes since.
  • Support comes at 136.25, Yesterday's low, while better is seen at the 135.81 area.
  • Resistance moves down to 137.14/137.17 initially.
  • Today sees, Spanish and German employment, and out of the US, ISM Mfg and JOLTS.
  • FOMC Minutes are also due but unlikely to be a mover, with near term focus squarely on Data releases.
  • SUPPLY: German EU4.5bn Schatz 2yr (equates to 42.9k Schatz) should weigh into the bidding deadline.
  • SYNDICATION: Slovenia 10yr Benchmark.

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