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The 10yr Yield remains at the 2.45% mark

BUNDS
  • Very little change for Bund post the BoJ hike, with the contract trading in a 29 ticks range overnight, and just 10k lots going into the Cash open.
  • The 10yr Yield should remain above that initial 2.45% mark, with Bund looking to test its session low post Cash open, printed a 2.468% high Yesterday, but it is still few basis points short of the next 2.512% level, the 2024 high.
  • US Tnotes saw similar price action Yesterday, and while TYM4 broke below the 2024 low, the 10yr Yield found resistance at 4.3486% the 2024 high, printed a 4.3461% high Yesterday.
  • Today only sees, German ZEW, with no tier 1 data out of the US.
  • SUPPLY: UK £2bn 2043 (equates to 28.9k Gilt), could weigh on Gilts, US sells $13bn of 20yr reopening.
  • SYNDICATION: EU 25yr, Italy 2036.
  • SPEAKERS: ECB Guindos, de Cos.

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