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Ticking lower post Cash open

BUNDS
  • Bund drifts a few ticks on the UK Retail sales beat, but quite a volatile data.
  • Momentum and trend was already to the downside pre Cash open, some attributing the move off Fed {us} Bostic's (a leaning Hawk) comment that there was no rush in cutting rates, which has also been the major play via HUGE options in 10yr Treasuries.
  • Small support in Bund is at 132.20, testing now, followed by 132.77, Yesterday's low.
  • Resistance comes at 133.56, followed by 133.71 and 134.28, failed at 134.18 Yesterday.
  • Today sees, French final CPI, US PPI, Prelim Michigan.
  • SPEAKERS: ECB Schnabel, Fed Barkin, Barr, Daly and BoE Pill.

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