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Tnotes ticks above Yesterday's high

BUNDS
  • Bund saw just a 9 ticks traded range overnight, in very low Volumes, and the contract trades near its early week mid range ahead of the cash open.
  • UK Inflation data, coming below consensus helped Bund 15 ticks higher on the cash open, pushing through the figure.
  • There was some early buying interest in US Tnotes (TYM4), which was bought for 6k pre UK data, and has now broken 110.08, Yesterday's high.
  • German 10yr is still around 2.45%, and in terms of Yield level, next resistance would still seen at 2.512%, equates to circa 131.12.
  • Early support for Bund today is at 131.54 and resistance at 132.10, this early week low/high range.
  • There's no Tier 1 data left for the session, Italian IP and EU Consumer Confidence should have limited impact, and with no notable US Data, main focus today will be on the US FOMC.
  • SUPPLY: Greek 2028 (too small won't impact Bund), German 2044, 2052 (equates combined to 10.9k Buxl) should have limited impact.
  • SPEAKERS: Plenty of focus on Speakers today, includes, ECB Lagarde, Lane, de Cos, Schnable, Nagel, Villeroy, and of course Fed Powell's presser.
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