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Pushing towards the 2% Yield mark

BUNDS
  • Bund remains under pressure overnight and into the cash open, slowly heading towards the 2% mark in Yield, as investors see no let off in CB's hiking cycle.
  • Bund has again opened with a downside opening gap (140.17 to 139.87), and is through the immediate support that was 139.88.
  • Further push lower, would eye 139.20 3.382 proj of the Aug 2 - 12 - 15 price swing, but more importantly the 2013 peak in Yield at 2.087%, which equates circa 138.88.
  • Resistance come at the opening gap.
  • Today, Services PMIs take centre stage, and for the UK the mini Budget at 0.930BST will be closely watched.
  • SPEAKERS: ECB Kazaks, Nagel, SNB Jordan, and Fed Powell gives opening remarks at Fed Listens event hosted at the Board in Washington and Vice Chair Lael Brainard and Governor Michelle Bowman.

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