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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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The German 10yr Yield traded close to 2.70%
- Bund has been just short of testing the next Yield level of 2.70% overnight, equated to 128.80 Yesterday, and printed a 128.84 low overnight where it so far found support ahead of the Cash open.
- Bond Futures have been under pressure as the street continue to discount the number of cumulative cuts from the major central Banks, especially post the June expected cut from the ECB.
- German, UK, and French 10yr Yields all printed new 2024 high.
- Immediate support for Bund will be at the 128.80 area, while resistance moves down to circa 129.63.
- On the data front out of Europe, we'll see Spain prelim CPI, and out of the US, 2nd reading for reading GDP and core PCE price index.
- US IJC and prelim Wholesales are also due.
- SUPPLY: Italy 2029s, 2034 (equates combined 55.6k BTP) should weigh into the bidding deadline, the 2029, 2032 floating Bonds won't impact BTPs, Finland 2026, won't impact Bund.
- SPEAKERS: Fed Williams, Logan, {eu} ECB Makhlouf.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.