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Safe Haven favoured

BUNDS

Bund stays underpinned on the Cash and Govies open.

  • US stimulus delay, continued spread of covid cases, vaccine stockpile and roll-out concerns has favoured FTQ as we start the week.
  • Focus today, sees another light day on the data front, with just Spain PPI.
  • Speakers include ECB Centenero and de Cos-
  • SUPPLIES: Netherland EU 3bn 0.25% Jul-25, and Italy EU3bn Sep-22.
  • These equate to combined 11.7k Bund, so unlikely to have much effects on Futures.-Syndication: Sure 7s and 30yr
  • Technically Bund tested initial resistance at 177.96 High Jan 14 (traded 177.94 high), but seeing better towards 178.27 High Jan 5

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