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The ECB is at the forefront

BUNDS
  • A 24 ticks range for Bund pre cash open and nothing really jumps out across assets, as investors await one of the most split call for the ECB rate decision, will they, won't they?
  • The contract found support Yesterday just ahead of the 2.713%, the 21st August high level in Yield, which equated to 129.87, with similar price action in Tnotes, with the 10yr Yield failing just short of the 4.3618% August high and highest print in 16yrs at 4.3420% on Swap flow interest.
  • Support in Bund moves up to 130.58, close to the overnight low. Below the latter, sees 130.27 and 129.87 (Yield level).
  • Resistance remains at 130.99 initially.
  • Today sees, US PPI/Retail sales, but main focus is on the ECB and presser, with no data out of Europe.
  • SUPPLY: Ireland 2027s and 2045s, won't impact Bund.

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