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Supply and BoE

BUNDS
  • A light overnight session for Bund, off yesterday high, after a less hawkish FOMC, while still delivering the expected 50bps hike, Mr Powell pushed back against larger 75bps increases.
  • Tnotes and other Govies saw yield falling, after being well defended throughout the session yesterday, pre FOMC.
  • Attention today, turns to the BoE and presser, who are expected to deliver a 25bps hike.
  • Support in Bund, moves up to 153.07, followed by 152.74 initially.
  • Resistance comes at today's high 153.80 (printed 153.79 high).
  • Today, sees very little in terms of market moving data, focus is on the BoE.
  • OPEC will have a regular virtual meeting.
  • SUPPLY: Early focus for Europe will be on supply, with Spain 2029, 2027, 2033 and a 2071 linker. France 2032, 2040 and 2053, which may weigh in early trade.
  • SPEAKER: BoE presser, ECB Lane and Holzmann.
  • EARNINGS: US Conocophilips, Kellog and news corp, all pre market.

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