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The 2024 high in Yield Holds

BUNDS
  • UK CPI beat was worth a 22 ticks drop in Bund on the Cash open, but the 2024 high in Yield at 2.512% should have held once again, perfectly tested Yesterday, with a 130.97 low in futures, printed a 131.00 low so far today.
  • Immediate support is still at 130.97, while small resistance moves down to 131.39, followed by the 132.00 figure.
  • Today only sees EU final CPI, and nothing of real note out of the US, no tier 1 data.
  • SUPPLY: UK £3.75bn 2031 (equates to 26.7k Gilt) could weigh, Germany 2050, 2054 (equates combined 12.8k Buxl) could weigh, Italy holds an exchange auction, US Sells $13bn of 20yr reopening.
  • SPEAKERS: ECB Cipollone, de Cos, schnabel, Lagarde, BoE Greene, Bailey, Haskel, Fed Mester.

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