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Sees further push lower post open

BUNDS
  • Bund has tested through the next support noted at 134.87, following Fed Waller Yesterday afternoon, and the latest round of Hawk ECB speakers pushing back on early ECB rate cuts.
  • The contract remains under pressure post cash open, and drops some 22 ticks following the UK Inflation data beat, and remains heavy, since the UK release.
  • Next support is at 134.37, followed 134.05, while resistance moves down to 135.23.
  • This morning sees EU final CPI, and out of the US Retail Sales and IP.
  • SUPPLY: Italy to hold an exchange via the electronic trading system. Greek 5yr (too small won't impact German Govies). Germany 2052, 2053 (equates combined 12k Buxl), could weigh. UK £3.75bn 10yr (equates to 34k Gilt) will weigh.
  • SYNDICATION: Finland WNG 30yr.
  • SPEAKERS: A busy day on the speaker front, ECB Cippolone, Vasle, Simkus, Villeroy, Vujcic, Knot, Lagarde, Nagel, Fed Barr, Bowman, Williams.
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