September 08, 2023 06:21 GMT
Testing resistance
BUNDS
- Bund extends gains post the Cash Govie open, as noted Yesterday, Treasuries were getting close to some key level in Futures and in Yield term.
- German and US futures saw some notable volatile moves for that time of the day, around 1am UK time, albeit small in the bigger picture.
- The overnight moves were seen alongside pressure on USD/JPY as Finance Minister Suzuki reiterated that Japan won't rule out any options to address excessive FX moves.
- German final CPI came right inline, and the German contract extends gains since the cash open.
- There's small resistance at 131.44, testing now, followed by 131.67, but most investors will look at 131.82 initially in Bund.
- It is another quiet day on the data front, with no tier 1 data, French IP is the only one out of Europe, but unlikely to be a mover.
- In the US Wholesales will be final reading.
- SPEAKERS: Fed Bostic, Logan, Barr.
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