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Tests Session Lows On Bundesbank Inflation Outlook

BUNDS

Front Bund falls to just a tick above session's low (172.04) on Bundesbank monthly report inflation forecasts pointing to close to 6% Y/Y Nov inflation (albeit a significant amount of that is on base effects, including VAT cut in 2020).

  • And inflation "could remain well above 3% for a longer period of time" and for core "values well over 2% are conceivable."
  • This comes after RXZ1 had hit the highest level since early September this morning, prior to reversal. Main support eyed at 171.44, Nov 9 high and recent breakout level

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