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The August high in 10yr Yield holds

BUNDS
  • The small opening gap in Bund was quickly closed overnight and the German contract traded in a tight 11 ticks range pre Cash open, but edging higher post open.
  • Although futures traded through 133.77, the August low which was seen as the initial support to watch of late, it found support bang on the 2.30% Yield level, with the August high at 2.302%.
  • Support in Bund will now be seen at the 2.30% mark, while resistance moves down to 134.28, 134.70 and more importantly 135.18.
  • There's no Tier 1, or notable data for today, things are fully picking up as of Tomorrow.
  • SUPPLY: UK £1.5bn 2033 Linkers (won't impact Gilt), US sells $28bn 2yr FRN reopening (won't impact Treasuries), and sells $70bn of 5yr Notes (could weigh).
  • SYNDICATION: Austria 5yr Benchmark, and possible 1.5% 2086 tap.
  • SPEAKERS: Fed Waller, Bostic, and BoE Mann.

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