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Seeing better offers since the cash open

BUNDS
  • Bunds sees better offers since the cash open, in light traded volume.
  • The contract did find a base near the initial yield support at -0.293%, did print -0.301% low, all led by the beat in US inflation.
  • Inflation in the largest Economies are showing clear strong signs, after the China beat.
  • In terms of quick technical, support will be seen at 170.21, but see better at 170.05.
  • Level support to watch is further out at 169.15, which equates to -0.211% the initial yield resistance.
  • Very little on the data font for the session, Spanish CPI will be final reading, most of the attention will be on the US prelim Michigan and the inflation components.
  • SPEAKERS: ECB Lane, BoE Haskel and Fed Williams, but they will likely be ignored, with focus squarely back on Data, ahead of the December Central Banks meetings.
  • RATING Fitch on Portugal and S&P on Netherlands

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