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Trades near Yesterday's low

BUNDS
  • Bund trades near Yesterday's low going into the cash open, after the contract saw some unwind Yesterday, reversing some of Friday's gains.
  • Support comes at 132.52, followed by 132.25 initially.
  • Resistance is unchanged at 133.37, followed by 2.234% (March low in Yield), circa 133.99.
  • Today includes, Spain final GDP, but unlikely to be a real mover, so more focus on US prelim Durable goods this afternoon.
  • SUPPLY: Netherlands €2bn 2029 (equates to 15k Bobl) should have limited impact, UK £3bn 2028 (equates to 12.6k Gilt) should have limited impact, German green 2025 (equates to 7.1k Schatz) and 2033 (equates to 7.5k Bund), they shouldn't impact German Govies. US sells $67bn of 5yr Notes.
  • SPEAKERS: ECB Muller.

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