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Some focus on early supplies

BUNDS
  • Bund trades in a narrow 15 ticks range overnight, and we remain within this week's traded range, with very little in terms of new news.
  • Medium, longer term outlook is unchanged with risk tilted to the downside. Support is at the -0.211% yield, 170.22, while resistance comes at 171.44 High Nov 9 and the bull trigger
  • We have very little in terms of data, US IJC is no longer a market driver since we have fallen below a certain thresholds
  • SUPPLIES: Spain 5, 7, 10yr, French 3y, plus linker, US $14bn 10yr TIPS.
  • A side note, and this will have no impact on Bund, but there's a huge focus for EM traders, on the Turkish Central Bank rate decision.
  • Any TRY charts is pretty outstanding, at record lows against every single currencies.
  • We have a CBRT that is attempting to combat high inflation by cutting rates.
  • Today's survey is going for a 100bps cut,.

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