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Remains heavy

BUNDS
  • Bund has been pushed back towards last week's low, following the US Retail Sales and IJC beat Yesterday, and the contract is still mostly offered, despite showing 16 ticks up going into the Cash open.
  • Initial support is unchanged at 133.77, managed a 134.09 low Yesterday, and 133.94 low last week.
  • Resistance moves down to 134.72, followed by 135.18, with the latter holding this week.
  • UK Retail sales was pretty much inline, and had no impact in Govies, while the Pound stays bid.
  • The main tier 1 data for today will be the US Prelim Michigan and its Inflation components.
  • SPEAKERS: Fed Goolsbee (x3).

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